Business
Regulus Announces Filing of Prospectus Supplement
VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Regulus Resources Inc. ("Regulus" or the "Company") (TSX.V – REG) is pleased to announce that it
About this update from Regulus Resources Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Regulus Resources Inc. (\"Regulus\" or the \"Company\") (TSX.V – REG) is pleased to announce that it has filed a prospectus supplement (the \"Supplement\") to its short form base shelf prospectus dated December 6, 2019 (the \"Base Prospectus\") in connection with its previously-announced $10 million financing. The Supplement was filed with the securities regulatory authorities in each of the Provinces of British Columbia, Alberta and Ontario. Copies of the Base Prospectus and the Supplement are available under the Company's profile on SEDAR at www.sedar.com. As set forth in the Supplement, the Company has entered into an underwriting agreement with BMO Capital Markets, as sole underwriter (the \"Underwriter\"), to sell on bought deal basis 6,368,625 units (the \"Units\") of the Company, at a price of $1.06 per Unit (the \"Offering Price\") for gross proceeds of approximately $6.75 million (the \"Public Offering\"). Each Unit consists of one common share (\"Common Share\") of Regulus and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\") of Regulus. Each whole Warrant will entitle the holder thereof to purchase one Common Share of the Company at a price of $1.70 per Common Share, for a period of 24 months following the closing of the Public Offering (the \"Closing\"). In addition, the Company has granted the Underwriter an option, exercisable at any time until two business days prior to the Closing, to purchase up to an additional 1,415,250 Units on the same terms as the Public Offering (the \"Underwriter's Option\"). If the Underwriter's Option is exercised in full, the gross proceeds to the Company in the Public Offering will be approximately $8.25 million. Concurrent with the Public Offering, Regulus has entered into subscription agreements with certain funds managed by Route One Investment Co. LP, the Company's largest shareholder, to purchase on a non-brokered private placement basis 3,066,375 Units at the Offering Price, for gross proceeds of approximately $3.25 million (the \"Private Placement\"). The aggregate gross proceeds of the Public Offering and the Private Placement totals approximately $10.0 million ($11.5 million if the Underwriter's Option is exercised in full). The Company expects to close the Pu...