Business
Rogue Announces Closing of Oversubscribed Private Placement, and Increase in Insider Ownership
Toronto, Ontario--(Newsfile Corp. - November 30, 2017) - Rogue Resources Inc. (TSXV: RRS) ("...
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"Rogue Announces Closing of Oversubscribed Private Placement, and Increase in Insider OwnershipToronto, Ontario--(Newsfile Corp. - November 30, 2017) - Rogue Resources Inc. (TSXV: RRS) (\"Rogue\" or the \"Company\") is pleased to report that it has closed its previously announced private placement, launched on October 24th, raising a total of $837,000 (the \"Offering\"). On November 9th the Company announced the closing of a first tranche of the private placement for aggregate gross proceeds of $465,393.36 by way of the issuance and sale of 1,652,061 flow-through common shares (\"FT Shares\") at a price of $0.22 per FT Share and 566,333 non-flow-through units of the Company (\"Units\") at a price of $0.18 per Unit. Each Unit consists of one common share and one common share purchase warrant (each, a \"Warrant\") entitling the holder thereof to purchase one common share at an exercise price of $0.25 for one year.Today, the Company closed the second and final tranche of the private placement, receiving aggregate gross proceeds of $371,946.78, from the issuance and sale of a further 2,066,371 Units. In connection with closing of this tranche of the Offering, the Company has paid finders' fees of $2,944 and has also issued 16,635 non-transferable warrants (\"Finder's Warrants\") to certain arm's length finders. Each Finder's Warrant entitles the holder to acquire one additional Common Share at a price of $0.25 for a period of 12 months from the closing date. The proceeds from the sale of Units will be used for project acquisition expenses and general corporate purposes. The Offering is subject to regulatory approval, including the approval of the TSX Venture Exchange (the \"TSXV\"). The common shares issued in connection with the Offering are subject to a statutory hold period of four months plus one day from their respective closing date, in accordance with applicable securities legislation. \"This financing is clear indication of the support we have from new and existing shareholders who told us they believe in the Company's long-term fundamentals\" said Sean Samson, President and CEO of Rogue Resources. \"Management and the complete Board bought in and after this financing a good portion of the Company's shares will be in supportive hands. Increasing insider ownership and attracting new investors to our story continues to be a foc...