- Ranchero Gold (RNCH) has announced a marketed public offering of of units for gross proceeds of up to $5,000,000
- The company will issue up to 60,000,000 units for $0.12 per unit
- Net proceeds will be used to fund capital expenditures and continued exploration of the company’s Santa Daniela project
- Ranchero is a gold exploration and development company focused on its Santa Daniela project in Sonora, Mexico
- Ranchero Gold Corp. (RNCH) is down 6.25 per cent on the day, trading at C$0.15 per share at 2:15 pm ET
Ranchero Gold (RNCH) has announced a marketed public offering of of units for gross proceeds of up to $5,000,000.
The company will issue up to 60,000,000 units for $0.12 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of 36 months after the closing date of the offering.
The offering will be led by M Partners Inc. on behalf of a syndicate of agents including Research Capital Corporation, Canaccord Genuity Corp., and Laurentian Bank Securities Inc.
The company has granted to the agents an over-allotment option to sell up to an additional 15 per cent of the number of units sold under the offering. The over-allotment option will be exercisable for a period of 30 days following the closing of the offering.
The offering is subject to the execution of an agency agreement, and the approval of the TSX Venture Exchange.
Net proceeds will be used to fund capital expenditures and continued exploration of the company’s Santa Daniela project, as well as for working capital and general corporate purposes.
Ranchero is a gold exploration and development company focused on its Santa Daniela project in Sonora, Mexico.
Ranchero Gold Corp. (RNCH) is down 6.25 per cent on the day, trading at C$0.15 per share at 2:15 pm ET.