Refined Energy Corp. Secures C$2 Million in Financing
Vancouver-based Refined Energy Corp. (CSE: RUU | OTC: RRUUF | FRA: CWA0) has successfully closed its non-brokered private placement financing, raising an impressive C$2 million in aggregate gross proceeds. This important step marks a significant achievement for the company as it looks to advance its operations and mineral projects.
Details of the Private Placement
In the recently concluded Private Placement, Refined Energy issued 10 million units, each priced at $0.20. Each unit comprises one common share and one share purchase warrant, which grants the holder the rights to purchase additional shares at $0.25 until November 7, 2027. However, there is a hold period which restricts the exercise of the warrants until January 6, 2026.
The net proceeds from this financing will be strategically utilized for exploration and evaluation at the Dufferin Project, Refined's flagship endeavor. These funds will also support maintaining the company’s interests in the project and help bolster general working capital.
Regulatory Aspects and Exemptions
The securities issued were sold to purchasers in all Canadian provinces, excluding Quebec, under the LIFE Exemption, which enables the company to bypass certain resale restrictions. As a result, Canadian subscribers will have increased liquidity on their investments post the mandated hold period.
Moreover, interested parties can find comprehensive details regarding the Private Placement in an offering document published on the company’s profile. Such insights will include specifications on how the raised funds will be allocated, reinforcing the company's commitment to transparency.
About Refined Energy Corp.
Refined is firmly committed to the exploration and development of mineral properties across North America. The Dufferin Project plays a crucial role in their portfolio, signifying their dedication to tapping into promising geological formations. With a drilling program set for 2026, they aim to unlock the full potential of this area. Moreover, Refined also has strategic options in the Basin and Milner uranium properties, further diversifying their portfolio and future plans.
Looking Ahead: Future Plans
As Refined Energy Corp. fortifies its financial position through this successful placement, the company is poised for significant exploration activities in the upcoming years. Their proactive approach in securing financing underpins a dedicated trajectory towards scaling operations and maximizing shareholder value.
Contact Information
For more information, please reach out to Eli Dusenbury, the Chief Financial Officer, at +1 (604) 398-3378 or email info@refinedenergy.com.
Frequently Asked Questions
What is the total amount raised in the private placement?
The total amount raised is C$2 million.
How many units were issued in the private placement?
A total of 10 million units were issued at a price of $0.20 each.
What will the funds from the private placement be used for?
The funds will be used for exploration at the Dufferin Project and for general working capital purposes.
What is the exercise price of the warrants?
The exercise price of the warrants is $0.25 per share.
When is the drilling program planned for the Dufferin Project?
The drilling program is planned for 2026, showcasing the company’s commitment to advancing its projects.
