- Due to high investor demand, Rugby Mining (RUG) has increased the size of its private placement
- An additional 12,500,000 units will be issued for additional gross proceeds of up to $1,500,000
- Gross proceeds from the placement will total up to $4,000,000
- Proceeds will be escrowed and will be released upon the closing of the company’s proposed acquisition of Proximo Resources Pty Ltd
- Once released, the proceeds will be used principally for the exploration of Proximo’s Salvadora project
- Rugby Mining Ltd is an exploration company engaged in the acquisition and development of mineral properties in Australia, Colombia, and the Philippines
- Rugby Mining Limited (RUG) is currently trading at C$0.125 per share
Due to high investor demand, Rugby Mining (RUG) has increased the size of its previously announced private placement.
Rugby now proposes to issue up to an additional 12,500,000 units for additional gross proceeds of up to $1,500,000.
Gross proceeds from the placement will total up to $4,000,000.
Each unit offered will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for a period of eighteen months from the closing date of the offering.
Closing of the offering is subject to receipt of all necessary regulatory approvals.
The company may pay finders’ fees in connection with the offering. All securities issued will be subject to a hold period of four months and one day from the closing date.
Proceeds will be escrowed and will be released upon the closing of the proposed acquisition of Proximo Resources Pty Ltd. Once released, the proceeds will be used principally for the exploration of Proximo’s Salvadora project and for general expenses.
Rugby Mining Ltd is an exploration company engaged in the acquisition, exploration, and development of mineral properties in Australia, Colombia, and the Philippines
Rugby Mining Limited (RUG) is currently trading at C$0.125 per share.
