Rugby Resources Ltd. Engages Investors with $2.5 Million Placement
Rugby Resources Ltd. (“Rugby” or the “Company”) (TSX-V: RUG) has launched an exciting non-brokered private placement designed to raise up to $2,500,000. This initiative involves offering up to 100,000,000 units at a price of $0.025 each. This offering presents a remarkable opportunity for investors to engage with the Company as it continues to advance its business objectives.
Each unit comprises one common share of the Company and a half warrant (0.5 Warrant). Holders of the warrants can purchase an additional common share at an exercise price of $0.05 for a period of 36 months following the closing of the offering. This structure not only provides immediate capital but also incentivizes unit holders to engage further with the Company’s future growth.
Utilization of Funds for Growth
The proceeds gathered from this offering will be strategically allocated. The Company aims to bolster its working capital, further advance its exploration properties, and settle outstanding liabilities. This financial strategy is crafted to ensure that Rugby can capitalize on upcoming projects and opportunities effectively.
Collaboration with Finders
Moreover, Rugby has also indicated the provision for finder’s fees to be paid to individuals or organizations that introduce subscribers to the Company. This can be done in cash, through the issuance of Rugby's securities, or a combination of both. This approach encourages more investment and engagement from various parties interested in Rugby’s initiatives.
Regulatory Compliance and Hold Period
The offering is subject to acceptance by the TSX Venture Exchange, showcasing Rugby's commitment to adhering to regulatory standards. Additionally, all securities issued under the offering will be held in accordance with applicable securities laws, which includes a statutory hold period of four months plus a day from issuance. This regulation aims to protect both the investors and the integrity of the market.
Recent Developments
In recent news, Rugby has entered into a Binding Letter Agreement with Pampa Metals Corp., which outlines the proposed acquisition of Rugby by Pampa. This strategic move has the potential to open up even more avenues for growth and expansion within the industry.
Continuous Engagement and Communication
The Company encourages everyone interested in its business developments and offerings to visit the Rugby Resources Ltd. website for further information. Additionally, potential investors can contact the Company directly for any inquiries or further clarification regarding the placement and its implications for Rugby's future.
Contact Information
For any questions, investors can reach out to:
Rob Grey, VP Corporate Communications
Tel: 604-688-4941
Fax: 604-688-9532
Toll free: 1-855-688-4941
Suite 1890 – 1075 West Georgia St.
Vancouver, BC Canada, V6E 3C9
Email: info@rugbyresourcesltd.com
Frequently Asked Questions
What is the purpose of the private placement?
The proceeds from the private placement will be used for working capital, advancing exploration properties, and settling outstanding liabilities.
How many units are being offered?
Rugby Resources Ltd. is offering up to 100,000,000 units at a price of $0.025 each.
What are the terms of the warrants associated with the units?
The warrants allow holders to purchase one additional common share at an exercise price of $0.05 for a period of 36 months after the closing of the offering.
Are there any finder’s fees involved?
Yes, the Company may pay finder’s fees in cash or securities for sales of units to subscribers introduced by finders.
Where can I get more information about Rugby Resources Ltd.?
For more details, you can visit Rugby Resources Ltd.'s official website or contact them directly via phone or email.
