Rainy Mountain Royalty (RMO-V) Sept 28, '16 subject to regulatory approval, is proceeding with a non-brokered private placement to raise up to $420,000 by the issuance of seven million non-flow-through units at six cents per non-flow-through unit. Each non-flow-through unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of 10 cents.
The company now intends, subject to regulatory approval, to add a flow-through offering to the private placement. Under the flow-through offering, Rainy Mountain intends to raise up to an additional $225,000 by the issuance of three million flow-through units at 7.5 cents per flow-through unit. Each flow-through unit will consist of one flow-through common share and one non-flow-through share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow-through common share for a period of one year at an exercise price of 10 cents.
With respect to the non-flow-through and flow-through offerings, the company may pay finders' fees in the amount of 10 per cent (payable in cash or non-flow-through units), based on the sale of non-flow-through units and the flow-through units purchased by the subscriber introduced to the company by such finders.
The company intends to use the proceeds from this private placement for furthering exploration on Rainy Mountain's optioned Brunswick property in Ontario and for general working capital purposes.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.rmroyalty.com .
Rainy Mountain Royalty Corp.
"Douglas L. Mason"
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Douglas L. Mason, President & CEO |
