RPX Gold raises C$14.15 million through private placement offering
RPX Gold Inc. (TSXV: RPX) completed a brokered private placement offering that raised C$14,144,999.84 in gross proceeds. The offering consisted of multiple types of securities including units and shares priced between C$0.17 and C$0.238.
The company sold 11,051,450 non-flow-through units at C$0.17 each, 29,591,576 flow-through units at C$0.238 each, 9,805,000 flow-through units at C$0.204 each, 18,360,225 common shares at C$0.17 each, and 500,000 flow-through shares at C$0.204 each.
Each unit includes one common share and one-half of a warrant. The warrants allow holders to purchase additional common shares at C$0.27 each until May 13, 2028.
Haywood Securities Inc. led the syndicate of agents for the offering, which was conducted on a best-efforts basis. The agents received a 6% cash commission on gross proceeds and broker warrants equal to 6% of the securities sold.
RPX Gold plans to use proceeds from non-flow-through securities for working capital and general corporate purposes. Proceeds from flow-through securities must be used for Canadian exploration expenses that qualify as flow-through mining expenditures by December 31, 2027.
The company operates the Wawa Gold Project in northwestern Ontario. The project contains indicated mineral resources of 22.909 million tonnes grading 1.69 grams per tonne gold, containing 1,244,000 ounces of gold, and inferred mineral resources of 9.951 million tonnes grading 1.59 grams per tonne gold, containing 509,000 ounces of gold.
The offering remains subject to final acceptance by the TSX Venture Exchange.
