Mr. Daniel Caamano
reports
RAINMAKER RESOURCES LTD. CLOSES
NON-BROKERED PRIVATE PLACEMENT OF CDN$200,000
On Oct. 28, 2015, Rainmaker Resources Ltd. closed its non-brokered private placement through the issuance of 1,886,818 units for gross proceeds of $188,681.80.
Each issued unit consists of one common share of the company and one non-transferable share purchase warrant, with one full warrant being exercisable to purchase one additional common share of Rainmaker at a price of 10 cents for period of five years following the closing of the private placement.
In addition, the company paid cash commissions of $14,894.54 and issued 148,945 finder warrants in connection with the placement. Each finder warrant is exercisable at a price of 10 cents for a period of two years and entitles the finders to purchase one additional unit of the company, the units having the same terms and conditions as the units of the offering.
The securities issued consisting of shares, warrants and finder warrants and any shares acquired by the holders on the exercise of the warrants are subject to a four-month hold expiring on Feb. 29, 2016.
The proceeds of the offering will be used by the company to pay anticipated costs and expenses to be incurred in reorganizing the company and for general working capital of the company. In addition, Rainmaker intends to evaluate new projects, including possible opportunities in gaming, medical, technology and natural resources.
At this time, no transactions are in place, nor is there any assurance that any new project will be secured in the future.
© 2024 Canjex Publishing Ltd. All rights reserved.