Business
RT Minerals Corp. Announces $400,000 Private Placement and Drill Mobilization at Norwalk Property, Wawa, Ontario
Vancouver, British Columbia--(Newsfile Corp. - December 12, 2017) - RT Minerals Corp. (TSXV: R...
About this update from Rt Minerals Corp.
[{"type":"text","content":"RT Minerals Corp. Announces $400,000 Private Placement and Drill Mobilization at Norwalk Property, Wawa, OntarioVancouver, British Columbia--(Newsfile Corp. - December 12, 2017) - RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the \"Company\") announces that it proposes to undertake a private placement to raise gross proceeds of up to $400,000 (the \"Offering\"). The Company proposes to raise up to $200,000 through the sale of up to 4,000,000 non flow-through units priced at $0.05 (the \"NFT Units\") and up to $200,000 through the sale of up to 4,000,000 flow-through units priced at $0.05 (the \"FT Units\"). Each NFT Unit consists of one common share and one share purchase warrant (the \"Warrant\") exercisable into one further common share at a price of $0.05 for a term of one year. Each FT Unit consists of one flow-through common share and one half of a share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.06 for a term of one year.The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the \"Existing Shareholder Exemption\") and similar provisions in other jurisdictions' securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions' securities legislation.The Company has set December 12, 2017 as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below. If the Offering is oversubscribed, units will be allocated pro rata amongst all subscribers.The proceeds from the sale of the flow-through portion of the Offering will be used for drilling of the Red Carbonate Zone (\"RCZ\") located on the Company's 100% optioned Norwalk gold property located near Wawa, Ontario, as announced on November 27...