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Provider: Reuters Investment Profile
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Red Mile Minerals Corp Closes $206,000 Private Placement-Canada Stockwatch News


Wednesday, 2 Jan 2013 06:22am EST 

Canada Stockwatch News reported that Red Mile Minerals Corp. has closed a non-brokered private placement of $206,000 comprising 820,000 units at an issue price of five cents per unit and 3.3 million flow-through units at an issue price of five cents per flow-through unit. Each unit comprises one common share and one common share purchase warrant, with each warrant exercisable into a common share at an exercise price of 10 cents for a term of 18 months. Each flow-through unit comprises one flow-through share and one-half of one non-flow-through share purchase warrant, with each whole warrant exercisable into a common share at an exercise price of 10 cents for a term of 18 months. A finder's fee of 200,000 common shares has been issued in connection with the closing of the offering. The gross proceeds from the issuance of the flow-through units will be used to continue exploration activities primarily on the company's Blue Quartz and Dorset properties. The proceeds from the issuance of the units will be used for general working capital purposes. The securities issued pursuant to the offering will be subject to a four-month hold period from the date of closing of the offering. The closing of the offering remains subject to the approval of the TSX Venture Exchange. 

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18 Jul 2014