Business
Royal Gold Increases Interest in Taranis Resources Inc.
Royal Gold Increases Interest in Taranis Resources Inc..
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\n\nDENVER, Aug. 21 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; Toronto: RGL),\nthe world's leading precious metals royalty company, today announced that it\nhas acquired from Taranis Resources Inc., under a private placement, 100,000\ncommon shares of Taranis and warrants exercisable to purchase up to 50,000\nTaranis common shares at $0.49 (Cdn$0.55) per share expiring one year after\nclosing.\nPreviously, on November 4, 2005, Royal Gold had acquired from Taranis,\nunder a private placement, 937,500 common shares of Taranis and warrants\nexercisable to purchase up to 468,750 Taranis common shares at $0.49\n(Cdn$0.55) per share, expiring in November 2007. Additionally, due to the\nposition of Stanley Dempsey as a board member of both Royal Gold and Taranis,\nRoyal Gold can be considered to control options exercisable for 100,000\nTaranis common shares.\nRoyal Gold now owns 1,037,500 common shares and has the direct or\nindirect right to acquire a total of 618,750 common shares such that, if Royal\nGold exercised its rights and there was no other dilution, its holdings would\nrepresent 13.10% of the Taranis issued and outstanding common shares.\nRoyal Gold entered into a strategic alliance with Taranis in November\n2005 to pursue exploration opportunities in Finland. Royal Gold does not have\nany intention to acquire control of Taranis.\n\nRoyal Gold, Inc. is a precious metals royalty company engaging in the\nacquisition and management of precious metals royalty interests. Royal Gold\nis publicly traded on NASDAQ (Global Select market), under the symbol \"RGLD\",\nand on the Toronto Stock Exchange under the symbol \"RGL\". The Company's web\npage is located at www.royalgold.com.\n\n\n\n","length":1759,"tagName":"div"}]