By Devika Patel
Knoxville, Tenn., Dec. 22 - Rockcliff Resources Inc. said it completed a C$3 million non-brokered private placement of units. The deal priced for C$2.5 million on Nov. 25.
The company sold 8 million flow-through units at C$0.25 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant.
The company also sold 5 million working capital units at C$0.20 apiece. Each working capital unit consists of one common share and one warrant.
Each whole warrant is exercisable at C$0.40 for 18 months.
Proceeds will provide the company with additional operating and exploration capital.
Sudbury, Ont.-based Rockcliff Resources is a resource company that is focused on the acquisition and development of high-quality mineral assets.
| Issuer: | Rockcliff Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, working capital units of one common share and one warrant
|
| Amount: | C$3 million
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 22
|
| Stock symbol: | TSX Venture: RCR
|
| Stock price: | C$0.245 at close Nov. 24
|
| Market capitalization: | C$7.74 million
|
|
|
| Flow-through units
|
| Amount: | C$2 million
|
| Units: | 8 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
|
|
| Working capital units
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
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