Business
RTG Mining Inc. Announces Proposed US$12 Million Brokered Private Placement
PERTH, AUSTRALIA--(Marketwired - July 13, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES RTG Mining
About this update from Rtg Mining, Inc.
[{"type":"text","content":"PERTH, AUSTRALIA--(Marketwired - July 13, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES RTG Mining Inc. (TSX:RTG)(ASX:RTG) (\"RTG\" or the \"Company\") is pleased to announce its intention to raise approximately US$12 million in a private placement at a price of A$0.60 per share to Australian and international institutional and sophisticated investors (\"Private Placement\") led internationally by BMO Capital Markets, together with a syndicate of agents including Tectonic Advisory Partners (acting through Ecoban Securities Corporation), Arlington Group Asset Management Limited and Raymond James, (the \"International Agents\"), and will be co-led in Australia by Hartleys Limited in association with Taylor Collison (the \"Australian Agents\", together with the International Agents, the \"Agents\") on a best efforts agency basis. The Company will also reserve the right to accept oversubscriptions up to a further US$3 million which includes a portion of non-brokered shares. Completion of the Private Placement is subject to a number of conditions, including the completion of due diligence by the Agents, the negotiation and execution of definitive Agency agreements, satisfaction of any regulatory requirements, receipt of the approval of the Toronto Stock Exchange (the \"TSX\") to list the Securities on the TSX and the subsequent listing of the Securities on both the TSX and the Australian Securities Exchange Limited (the \"ASX\"). The Shares issued pursuant to this Private Placement in Canada will be subject to a four month and one day hold period under applicable Canadian securities laws. The closing date for the Private Placement is scheduled to occur on or about July 22, 2016, or such other date as agreed to by the Company and the Agents. The net proceeds from the Private Placement will be used to fund exploration and development of the Mabilo Project and exploration of the Bunawan Project as well as for working capital and general corporate purposes. The Private Placement will be conducted under exemptions from prospectus and disclosure requirements of applicable securities laws. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The securities have not been and will not be re...