By Laura Lutz
Des Moines, June 5 - Rimfire Minerals Corp. arranged a private placement of units for C$6.5 million.
The company plans to sell 600,000 flow-through units at C$2.50 each and 2.5 million non flow-through units at C$2.00 each.
Each flow-through unit will consist of one flow-through share and one non-transferable warrant.
Each non flow-through unit will consist of one non flow-through share and one non-transferable warrant.
The warrants will each be exercisable at C$2.75 for two years.
Settlement of the non-brokered placement is expected on June 28.
Proceeds will be used for exploration on the company's properties in the Yukon Territory and British Columbia and for general corporate purposes.
Rimfire is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Rimfire Minerals Corp.
|
| Issue: | Units of one flow-through share and one warrant; units of one non flow-through share and one warrant
|
| Amount: | C$6.5 million
|
| Agent: | Non-brokered
|
| Pricing date: | June 5
|
| Settlement date: | June 28
|
| Stock symbol: | TSX Venture: RFM
|
| Stock price: | C$2.13 at close June 5
|
|
|
| Flow-through units
|
| Units: | 600,000
|
| Price: | C$2.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.75
|
|
|
| Non flow-through units
|
| Units: | 2.5 million
|
| Price: | C$2.00
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.75
|
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