- Regulus Resources (REG) has upsized its private placement for gross proceeds of $23,112,153
- The company will issue 22,658,974 common shares priced at $1.02 per share
- Net proceeds will be used to advance the AntaKori project and for general corporate purposes
- The offering is expected to close by the end of January
- Regulus is an international mineral exploration company whose principal project is the AntaKori copper-gold-silver project in northern Peru
- Regulus Resources Inc. (REG) opened trading at C$0.94
Regulus Resources (REG) has upsized its private placement for gross proceeds of $23,112,153.
The company will issue 22,658,974 common shares priced at $1.02 per share.
The company’s largest shareholder, Route One Investment Company LLC, has agreed to purchase 2,600,000 common shares. Route One will then own 21.81 per cent of the company.
Net proceeds will be used to advance the AntaKori project and for general corporate purposes.
The offering is expected to close by the end of January and is subject to the approval of the TSX Venture Exchange.
No finders fee is payable in connection with the offering.
Regulus is an international mineral exploration company whose principal project is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48% Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag.
Regulus Resources Inc. (REG) opened trading at C$0.94.