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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Rupert Resources Ltd Completes Increased $510,000 Non-Brokered Private Placement

Wednesday, 17 Apr 2013 04:55pm EDT 

Rupert Resources Ltd announced that it has completed a non-brokered private placement financing (the Offering) as previously announced on March 26, 2013. The Offering consisted of the sale of 5,100,000 common shares at a price of $0.10 per share for gross proceeds of $510,000, increased from the $500,000 the Company had initially intended to raise. The Offering remains subject to final approval of the TSX Venture Exchange. All common shares issued are subject to a statutory hold period of four months and one day from the date of closing. In connection with the Offering the Company agreed to pay a finder's fee, payable in cash, to certain eligible persons. On closing of the Offering, the Company made cash payments totalling $25,000 to two such eligible persons with respect to the payment of finder's fees. The Company intends to use the proceeds from the Offering for its previously announced pre-drilling exploration program and for general working capital purposes. 

Company Quote

4 Mar 2015