Rugby Resources Ltd. Secures CAD$3 Million Through Private Placement
Rugby Resources Ltd. (TSX-V: RUG) recently announced a significant step forward by initiating a non-brokered private placement. This move allows the company to offer up to 60,000,000 units, each priced at $0.05, aiming to raise up to CAD$3,000,000. With these funds, Rugby aims to bolster its exploration endeavors and cover general expenses, positioning itself for future growth.
Structure of the Private Placement Offering
This private placement will consist of units, which include one common share and half of a common share purchase warrant, also known as a Half Warrant. Holders of the full warrants, which come into play when two Half Warrants are combined, will be entitled to purchase an additional common share for $0.12 within 18 months of closing the offering.
Regulations and Compliance
As with all offerings, securities issued will have a statutory hold period of four months plus one day from the issuance date, ensuring compliance with relevant securities laws. The offering’s completion is contingent on receiving all necessary regulatory approvals, demonstrating Rugby Resources' commitment to adhering to industry standards.
Utilization of Proceeds
The capital raised through this offering will be primarily channeled into exploration projects. This strategic allocation of funds will enable Rugby Resources to further investigate and develop its resource properties, which could yield substantial returns and increase shareholder value over time. The company's approach reflects a clear dedication to advancing its operational capabilities in a competitive market.
Company Background
Rugby Resources Ltd. has established itself in the resource sector, focusing on the exploration and development of mineral properties. With an innovative management team and a robust strategy, Rugby is committed to maximizing the potential of its assets. By actively engaging in private placements, the company enhances its capital base, vital for funding projects that demand significant financial resources.
Contact Information
For further inquiries, interested parties are encouraged to reach out to Rob Grey, VP of Corporate Communications. Rugby Resources’ office is located at Suite 1890 – 1075 West Georgia St., Vancouver, BC. You can contact them by phone at 604-688-4941 or toll-free at 1-855-688-4941. For email communications, reach out to info@rugbyresourcesltd.com.
Frequently Asked Questions
What is the purpose of Rugby Resources' private placement?
The private placement aims to raise CAD$3 million to support exploration activities and cover general operational expenses.
How much is each unit in the private placement?
Each unit is priced at $0.05, consisting of one common share and half a common share purchase warrant.
What are the terms of the common share purchase warrants?
Each full warrant allows the holder to purchase an additional common share at $0.12 for a period of 18 months from the close of the offering.
What is the statutory hold period for the securities issued?
All issued securities will have a statutory hold period of four months plus one day from the date of issuance.
Who can I contact for more information about Rugby Resources Ltd.?
For more information, you can contact Rob Grey at Rugby Resources Ltd. via phone at 604-688-4941 or email at info@rugbyresourcesltd.com.
