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Royal Road Minerals lifts private offering to up to C$3.6mln

Thursday, February 9, 2017 7:46
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Royal Road Minerals Ltd (CVE:RYR) now plans to bring in up to C$3.6mln from its previously announced private placing at 10 cents a share.

The net proceeds are intended to help finance its planned operations in Colombia and its anticipated operations in Nicaragua following the successful completion of its intended acquisition of Caza Gold Corp (TSXV:CZY).

Late last month, the group made an offer to buy Caza Gold Corp (CVE:CZY) in an all-share deal.

The firm will now issue up to 36mln units at 10 cents each for gross proceeds of up to C$3.6 million.

Each unit will consist of one share and one-half of one share purchase warrant, entitling the bearer to buy one company share for 20 cents for 24 months from the date of issue.

Pollitt & Co will lead a syndicate of agents, including Echelon Wealth Partners Inc. and M Partners Inc.

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