Mr. M.N. Foster reports
ROSS RIVER MINERALS CLOSES PRIVATE PLACEMENT
Ross River Minerals Inc. has completed a non-brokered private placement of 96,499,996 units of the company at a price of 0.75 cent per unit for gross proceeds of $723,750.
Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one additional common share at a price of 0.1 cent per common share until March 12, 2019.
The proceeds from the offering will be used to repay certain indebtedness and for general working capital purposes.
All securities issued in connection with the offering will be subject to a four-month hold period expiring on July 13, 2018.
Upon closing of the offering, the company intends to complete a consolidation of its issued and outstanding common shares of up to 20 old shares for every one new share. The company will complete the consolidation no later than six months from the completion of the offering.
© 2018 Canjex Publishing Ltd. All rights reserved.