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Roughrider Announces Partial Close of $185,000 Financing
Vancouver, BC / ACCESSWIRE / December 31, 2015 – Roughrider Exploration Limited (TSX-V...
About this update from Coast Copper Corp
[{"type":"text","content":"Roughrider Announces Partial Close of $185,000 FinancingVancouver, BC / ACCESSWIRE / December 31, 2015 – Roughrider Exploration Limited (TSX-V: REL) (\"Roughrider\") – is pleased to announce that it has closed $115,000 of a $185,000 financing by way of two private placements (together, the \"Financing\"), subject to final acceptance by the TSX-Venture exchange. \nThe Financing consists of the sale of 1,437,500 flow-through units (the \"FT Units\") at a price of $0.08 per share, and the sale of up to 1,020,857 non flow-through units (the \"Non-FT Units\") at a price of $0.07 per share. The FT Units consist of one flow-through common share and one half of one non-flow-through warrant. The Non-FT Units consist of one non-flow-through common share and one non-flow-through warrant. The warrants that form part of the FT Units and the Non-FT units have identical terms (the \"Warrants\"). Each whole warrant entitles the holder to purchase one non flow-through common share at a price of $0.12 per common share until December 31, 2017.\nThe Company will pay cash finder's fees of up to $11,200 and will issue up to 147,501 finder’s warrants. Each of these finder’s warrants will have the same terms as the Warrants. The proceeds of the Private Placement will be used for exploration on the Genesis Property and on Roughrider’s 100%-owned Athabasca Properties as well as for general working capital purposes.\nScott Gibson, Chief Executive Officer commented \"We appreciate the continued support of our shareholders, and are glad to be able to provide shareholders with an opportunity to invest in a tax-efficient manner. These funds will bring us another step closer to earning our interest in our Genesis project in northeast Saskatchewan.\"\nAll securities issued or issuable under the offering are subject to a four-month hold period expiring on May 1, 2016. Final closing of the Private Placement is subject to final acceptance by the TSX Venture Exchange.\nAbout Roughrider Exploration Limited\nRoughrider’s focus is exploring the 200,677 hectare (495,883 acre) Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan’s Athabasca Basin. Roughrider has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation. \nFor further informat...