Twitter Facebook LinkedIn YouTube

RT Minerals (TSXV: RTM) Announced Flow Through and Non-Flow Through Private Placements

Video Platform Video Management Video Solutions Video Player

The company plans to raise gross proceeds of up to $200,000 from the issuance of up to 4 million non flow-through units, priced at $0.05 per unit, with each unit consisting of one share and one full warrant. In addition, the company plans to raise gross proceeds of up to $350,000 from the issuance of up to 5 million flow-through units, with each unit consisting of one share and one-half a warrant.

Additional Information:

Company: RT Minerals
Website: http:www.rtmcorp.com
Stock Symbol: TSXV: RTM
Date Published: Sep 11, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

RT Minerals has announced non-brokered private placements of both flow-through and non flow-through units.

The company plans to raise gross proceeds of up to $200,000 from the issuance of up to 4 million non flow-through units, priced at $0.05 per unit, with each unit consisting of one share and one full warrant.

In addition, the company plans to raise gross proceeds of up to $350,000 from the issuance of up to 5 million flow-through units, with each unit consisting of one share and one-half a warrant.

With both units, the warrants are exercisable at $0.07 for 12 months.

In addition to accredited investors, the offerings are open to current shareholders.

The company is also relying on other Canadian Securities Commission exemptions allowing non-accredited investors to purchase the private placement provided they have obtained advice from a registered investment dealer.

The proceeds from the sale of the flow-through offering will be used for exploration activity on the company’s 100% optioned Norwalk property located near Wawa, Ontario.

With four, primarily gold and diamond properties in Ontario, the company is one of the largest land holders in the Hemlo-Wawa-Borden Lake gold and diamond region.

The non flow-through funds will be used for general working capital.

The Norwalk property is contiguous to the southern border of Red Pine Exploration, which has a 43-101 inferred resource on its Surluga Gold Deposit of 1,088,000 ounces of gold at 1.71 grams per tonne gold using a 0.50 grams per tonne gold cut-off grade, contained in 19.8 million tonnes, open along strike and at depth.

The company recently completed a 31 Line kilometres of Ground Magnetic and Induced Polarization geophysical program on its 1,000 acre Norwalk gold property.

This program has identified over 70 near-surface IP generally north-south trending anomalies on 27 east-west lines that occur throughout the property.

A Phase I drill program has mobilized and will test up to 15 priority drill targets with some 2,000 metres of core drilling.

Initial assays are expected within 30 days, with drilling to continue if this drill program delivers promising results.

The shares are trading at $0.065 and with 30.3 million shares outstanding, the company is capitalized at $2 million.

For more information, please visit the company’s website at www.rtmcorp.com, or contact Paul Antoniazzi, President & CEO, at 604-681-3170.

I’m Samantha Deutscher for Investmentpitch Media