Lead agent Scotia Capital exercises C$9.99 million greenshoe in full
By Devika Patel
Knoxville, Tenn., Jan. 7 - Rainy River Resources Ltd. said it completed a private placement of stock via lead agent Scotia Capital Inc. The deal priced for C$65 million with a C$9.99 million greenshoe on Dec. 14 and raised C$75.01 million.
The company sold 5.93 million common shares. The shares were sold at C$12.65 apiece, a 4.89% discount to C$13.30, the Dec. 13 closing share price.
The majority of the proceeds will be used for exploration at the Rainy River Project; a portion will be used for expenditures under the company's option on the TPK Project and general corporate purposes.
Rainy River is a metals exploration company based in Vancouver, B.C.
| Issuer: | Rainy River Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$75,014,500 (including C$9.99 million greenshoe)
|
| Shares: | 5.93 million
|
| Price: | C$12.65
|
| Warrants: | No
|
| Agents: | Scotia Capital Inc. (lead)
|
| Pricing date: | Dec. 14
|
| Settlement date: | Jan. 7
|
| Stock symbol: | TSX Venture: RR
|
| Stock price: | C$13.37 at close Dec. 14
|
| Market capitalization: | C$883.08 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
