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Rathdowney Resources (TSXV: RTH) has announced that it has closed a unit private placement of 7.9 million units. According to the press release: [The unites were] issued as part of the company’s president’s list for gross proceeds of $1.5 million. Each Unit consists of one common share in the capital of the Company (a “Share”) …
Rathdowney Resources (TSXV: RTH) has announced that it has closed a unit private placement of 7.9 million units.
According to the press release:
[The unites were] issued as part of the company’s president’s list for gross proceeds of $1.5 million.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional Share at a price of $0.24 for a period of two years from the date of closing.
Proceeds will be used to advance Polish permitting activities and further refine mining engineering work to progress the Company’s Olza zinc-lead-silver project towards feasibility and completion of permit licensing, as well as for general corporate working capital purposes.
The Shares and Warrants are subject to applicable resale restrictions, including a four month hold period under Canadian securities legislation.