Business
Royal Road Announces C$10 Million Bought Deal Financing
Royal Road Announces C$10 Million Bought Deal Financing Canada NewsWire TORONTO,...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"\n\n\n\nRoyal Road Announces C$10 Million Bought Deal Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 14, 2020\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\nAll monetary amounts are expressed in Canadian Dollars, unless otherwise indicated.\n TORONTO, July 14, 2020 /CNW/ - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Stifel GMP (the \"Underwriters\"), pursuant to which the Underwriters will purchase, on a bought deal basis, 27,150,000 ordinary shares (the \"Shares\") of the Company at a price of C$0.37 per Shares (the \"Offering Price\") for aggregate gross proceeds to the Company of C$10,045,500 (the \"Offering\").\nThe Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 4,072,500 Shares at the Offering Price, exercisable in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional C$1,506,825 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be C$11,552,325. \nThe Company plans to use the net proceeds from the Offering to fund exploration expenditures at the Company's exploration projects in Nicaragua and Colombia as well as for working capital and general corporate purposes.\nThe Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Québec. The Shares will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended, and other jurisdictions o...