Rainmaker Mining Corp. Closes Non-Brokered Private Placement of CDN$1,139,750
April 01 2014 - 7:45AM
Marketwired
Rainmaker Mining Corp. Closes Non-Brokered Private Placement of
CDN$1,139,750
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 1, 2014) -
Rainmaker Mining Corp. ("Rainmaker") (TSX-VENTURE:RMG) is pleased
to announce that on March 31, 2014 it closed its non-brokered
private placement through the issuance of 7,598,332 units for gross
proceeds of $1,139,750. The placement as originally announced on
February 27, 2014 was over-subscribed by 598,332 Units.
Each issued unit consists of one common share of the Company and
one half non-transferable share purchase warrant with one full
warrant being exercisable to purchase one additional common share
of Rainmaker at a price of $0.20 for period of 24 months following
the closing of the private placement, subject to an early
acceleration provision.
In addition, the Company paid cash commissions of $52,102.10 and
issued 77,600 finder's warrants in connection with the Placement,
each finder's warrant being exercisable to purchase one additional
share of the Company at a price of $0.20 for a period of 24 months
from the Date of Closing.
The securities issued consisting of shares, warrants and
finder's warrants and any shares acquired by the holders on the
exercise of the warrants are subject to a four-month hold expiring
on July 2, 2014. The Warrants attached to the Unit will become
callable on 30 days' notice in the event the Company's shares trade
at a price of $0.40 per share or greater for a 20 day trading
period after the four month hold period expires on the securities
sold.
The proceeds of the Offering will be used by the Company to
explore and develop its recently acquired property for silica sand
potential and for general working capital of the Company.
This News Release has been prepared on behalf of the Directors
of Rainmaker Mining Corp. who accepts responsibility for its
contents.
On Behalf of the Board of Directors,
Rainmaker Mining Corp.
Rick Patmore, President, CEO and Director
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Rainmaker Mining Corp.Suite 217-179 Davie StreetVancouver,
British Columbia V6Z 2Y1(604) 669-3233(604) 689-4626
Rainmaker Resources Ltd. (TSXV:RMG)
Historical Stock Chart
From Sep 2024 to Oct 2024
Rainmaker Resources Ltd. (TSXV:RMG)
Historical Stock Chart
From Oct 2023 to Oct 2024