Mr. Paul Joyce reports
RUGBY MINING ANNOUNCES CAD$3 MILLION NON-BROKERED PRIVATE PLACEMENT
Rugby Mining Ltd. has arranged a non-brokered private placement of up to 10 million units at a price of 30 cents per unit for gross proceeds of up to $3-million. Each unit will consist of one common share and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional common share of the company for a period of three years, at an exercise price of 40 cents per common share for the first two years and at an exercise price of 55 cents per common share in the third year from the closing date of the offering.
Proceeds from the offering will be used by Rugby for exploration expenditures and general continuing corporate matters.
The above private placement is subject to all regulatory approvals.
Closing of the offering is anticipated to occur on or about Jan. 4, 2013.
We seek Safe Harbor.