Business
Rupert Resources Announces a Non-Brokered Private Placement of up to $47.6 Million
TORONTO / Feb 09, 2023 / Business Wire / Rupert Resources Ltd. (“Rupert Resources” or the “Company”) (TSX: RUP) is pleased to announce that it intends to comple
About this update from Rupert Resources Ltd.
[{"type":"text","content":"TORONTO / Feb 09, 2023 / Business Wire / Rupert Resources Ltd. (“Rupert Resources” or the “Company”) (TSX: RUP) is pleased to announce that it intends to complete a non-brokered private placement of up to 10,120,000 common shares (the “Common Shares”) of the Company, at a price of C$4.70 per Common Share for gross proceeds of up to C$47,564,000 (the “Private Placement”). Agnico Eagle have indicated their intention to participate in the private placement pro-rata their current shareholding in the Company. The Private Placement is expected to close on or about February 24, 2023 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The Common Shares issued in connection with the Private Placement will be subject to a statutory hold period, in accordance with applicable securities legislation. The Company intends to use the proceeds from the Private Placement to fund on-going exploration and development expenditures on the Company’s properties in Finland and for general corporate purposes. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. About Rupert Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange under the symbol “RUP”. The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high quality gold discovery in Northern Finland. Ikkari is part of the Company’s “Rupert Lapland Project”, which also include the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt of Northern Finland. The Company also holds a 100% interest in the Surf Inlet Property in British Columbia, a 100% interest in properties in Central Finland and a 20...