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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (20378)	9/9/2016 8:56:57 AM
From: Goose94	Read Replies (1) \| Respond to of 203020

Royal Nickel (RNX-T) Sept 9, '16 is pleased to announce that it has entered into an agreement with Haywood Securities Inc., as lead underwriter on behalf of a syndicate of underwriters, under which the Underwriters have agreed to purchase, on a bought deal private placement basis, 17,648,000 units of RNC, at a price of $0.34 per Unit for gross proceeds of $6,000,320. Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share at an exercise price of $0.50 per Warrant Share for a period of 24 months from the date of closing of the Private Placement. RNC has granted the Underwriters an option to purchase up to an additional 2,647,200 Units at the Issue Price, exercisable at any time, in whole or in part, until 48 hours prior to the closing of the Private Placement. The net proceeds of the Private Placement will be used for continued ramp up and development of RNC's Beta Hunt Mine, as well as for working capital and general corporate purposes. RNC is pleased to announce that it has been informed that Eric Sprott (or his designate) has agreed to purchase (i) Units in the Private Placement and, (ii) as part of a separate transaction facilitated by the Underwriters (involving secondary market sales of approximately 15 million shares to institutional and high net worth investors), secondary market shares, resulting in ownership of at least 10% of the outstanding shares of RNC on a partially diluted basis. Mark Selby, President & CEO of RNC, commented, "Mr. Sprott is a highly respected and well known leader in the resource investment community and one of the world's premiere gold and silver investors. RNC is very pleased to have Mr. Sprott as a large shareholder of the Company and appreciates his support as RNC ramps up gold production and unlocks the gold exploration potential at Beta Hunt." The Units issued shall be subject to a four-month hold period from the closing date in accordance with applicable securities legislation. Closing of the Private Placement and sale of secondary shares via the off-market transaction is expected to occur on or about September 23, 2016. Closing of the Private Placement is subject to receipt of customary regulatory approvals, including approval of the TSX. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About RNC RNC is a multi-asset mineral resource company focused primarily on the acquisition, exploration, evaluation and development of precious metal and base metal properties. RNC's principal assets are the producing Beta Hunt gold and nickel mine in Western Australia, the Dumont Nickel Project located in the established Abitibi mining camp in Quebec and a 30% stake in the producing Reed copper-gold mine in the Flin Flon-Snow Lake region of Manitoba, Canada. RNC also owns a majority interest in the West Raglan and Qiqavik projects in Northern Quebec. RNC has a strong management team and Board with over 100 years of mining experience at Inco and Falconbridge. RNC's common shares trade on the TSX under the symbol RNX. RNC shares also trade on the OTCQX market under the symbol RNKLF. Royal Nickel Corporation Rob Buchanan Director, Investor Relations (416) 363-0649 www.royalnickel.com