09:50:58 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rugby Mining Ltd
Symbol RUG
Shares Issued 70,345,833
Close 2018-05-01 C$ 0.36
Market Cap C$ 25,324,500
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Rugby Mining arranges $1.22-million private placement

2018-05-02 12:48 ET - News Release

Mr. Paul Joyce reports

RUGBY MINING ANNOUNCES CAD$1.2 MILLION NON-BROKERED PRIVATE PLACEMENT

Rugby Mining Ltd.'s board of directors has approved a proposed private placement offering of up to 3.5 million units at a price of 35 cents per unit for gross proceeds of up to $1,225,000.

Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company for a period of one year from the date of the close at an exercise price of 50 cents.

A material change report relating to the offering is being filed less than 21 days prior to the closing of the offering. The shorter period is necessary in order to permit the company to close the offering in a time frame consistent with usual market practice for transactions of this nature.

Closing of the proposed offering is anticipated to occur on or about June 2, 2018. Closing of the offering is subject to receipt of all necessary regulatory approvals.

Proceeds of the offering will be used to finance Rugby's exploration expenditures at its Colombian gold and copper projects and for administrative purposes.

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