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Rathdowney Closes Second Tranche of Private Placement
Rathdowney Closes Second Tranche of Private Placement Canada NewsWire ...
About this update from Rathdowney Resources Ltd.
[{"type":"text","content":"\n \n \n \n Rathdowney Closes Second Tranche of Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 27, 2021\n \n /CNW/ - Rathdowney Resources Ltd. (\"Rathdowney\" or the \"Company\") (TSXV: RTH) announces that the Company has closed the second tranche of the unit private placement announced previously on\n \n July 29, 2021\n \n , issuing 24,428,571 common shares at\n \n $0.035\n \n /share for gross proceeds of\n \n $855,000\n \n .\n \n \n Each unit consist of one common share and one common share purchase warrant (a \"Warrant\").  Each Warrant can be exercised for a five year period from the Closing Date at\n \n $0.10\n \n per warrant share. In the event that the closing price of the common shares of the Company is at or above\n \n $0.20\n \n per share for a period of 10 consecutive trading days during the warrant exercise period (with the 10th such trading day hereafter referred to as the \"Eligible Acceleration Date\"), the warrant expiry date shall accelerate to the date that is 60 days after the Eligible Acceleration Date.  One subscriber was ineligible to receive 14,285,714 warrants.\n \n \n The securities issued pursuant to the private placement are subject to applicable resale restrictions, including a four month hold period from date of closing of the private placement under applicable Canadian securities laws. Completion of the private placement is subject to regulatory approval, including approval of the TSX Venture Exchange.\n \n \n Proceeds will be used to advance permitting and engineering activities on the Company's Olza zinc-lead-silver project in\n \n Poland\n \n , as well as for general corporate working capital purposes.\n \n \n For further information on Rathdowney and Project Olza, please visit\n \n \n www.rathdowneyresources.com\n \n \n .\n \n \n On behalf of the Board of Directors\n \n \n \n \n David J. Copeland\n \n , P.Eng.\n \n Chairman\n \n \n Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the po...