04:13:44 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Rackla Metals Inc
Symbol RAK
Shares Issued 50,494,238
Close 2015-09-01 C$ 0.01
Market Cap C$ 504,942
Recent Sedar Documents

Rackla to roll back shares one for five, raise $250,000

2015-09-03 08:52 ET - News Release

Mr. Simon Ridgway reports

RACKLA METALS PROPOSES SHARE CONSOLIDATION AND $250,000 PRIVATE PLACEMENT

Rackla Metals Inc. intends to complete a one-for-five share consolidation and a $250,000 private placement financing.

Management believes that in order to facilitate equity financings for the company and to attract new business opportunities, it is necessary to consolidate the share capital on the basis of one new share for every five existing shares.

The company also proposes to arrange a non-brokered private placement which will close after the consolidation has been effected, and which will consist of, on a postconsolidation basis, up to five million units at five per unit, for proceeds of up to $250,000. Each unit will consist of one postconsolidation common share and one warrant entitling the holder to purchase one additional postconsolidation common share of the company at five cents for two years from closing. The net proceeds of the placement will be used for general working capital purposes, including financing the company's continuing investigations toward identifying a prospective mineral property for acquisition and exploration.

The share consolidation and private placement are subject to acceptance for filing by the TSX Venture Exchange. The name of the company will remain unchanged. Upon completion of the one-for-five consolidation and the private placement, the company's current issued capital of 50,494,238 common shares would become 15,098,848 common shares.

We seek Safe Harbor.

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