Business
Royal Road Minerals Announces $CAD 1M Financing
TORONTO, ON / ACCESSWIRE / March 15, 2016 / Royal Road Minerals Limited (TSXV: RYR) ("Royal ...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Announces $CAD 1M FinancingTORONTO, ON / ACCESSWIRE / March 15, 2016 / Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road Minerals\" or the \"Company\"), a gold focused mineral exploration and development company, is pleased to announce its intention to complete a non-brokered private placement (the \"Offering\") of up to 20,000,000 units (each a \"Unit\") of the Company at a purchase price of C$0.05 per Unit for aggregate gross proceeds of up to C$1.0 million. Each Unit will be comprised of one ordinary share of the Company and one-half of one ordinary share purchase warrant (each whole warrant a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one ordinary share of the Company for a period of 24 months from the date of issuance. \nThe net proceeds of the Offering will be used by the Company to help finance its planned operations in Colombia and for general working capital purposes. In connection with the Offering, the Company may pay fees to certain finders in an amount equal to 6% of the aggregate proceeds from purchasers sourced by such parties.\nThe Offering is expected to close on or about April 8, 2016. Closing of the Offering is subject to the approval of the TSX Venture Exchange. All the securities issued under the Offering are subject to resale restrictions under applicable securities laws. \nThe securities to be issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States.\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. \nCautionary statement:\nThis news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as \"plan,\"...