By Sheri Kasprzak
New York, May 22 - Ripple Lake Diamonds Inc. settled the C$1,256,849 first tranche of a private placement of units.
The company issued 5,585,999 units at C$0.225 each on a non-brokered basis. Of the units, 1,327,777 were issued on a flow-through basis.
The units are comprised of one share and one warrant. Each warrant is exercisable for two years at C$0.30.
The terms of the final tranche of the deal could not be determined.
Based in Vancouver, B.C., Ripple Lake is a diamond exploration company.
| Issuer: | Ripple Lake Diamonds Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,256,849
|
| Units: | 5,585,999
|
| Price: | C$0.225
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Placement agent: | Non-brokered
|
| Settlement date: | May 18 (for first tranche)
|
| Stock symbol: | TSX Venture: RLD
|
| Stock price: | C$0.24 at close May 18
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