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    DGAP-News  659  0 Kommentare Royal Road Minerals Closes C$3.6 Million Brokered Private Placement Financing





    DGAP-News: Royal Road Minerals Limited / Key word(s): Miscellaneous


    Royal Road Minerals Closes C$3.6 Million Brokered Private Placement Financing


    17.02.2017 / 23:15



    The issuer is solely responsible for the content of this announcement.




    Toronto, Ontario--(Newsfile Corp. - February 17, 2017) - Royal Road
    Minerals Limited (TSXV: RYR) ('Royal Road Minerals' or the 'Company'), a
    gold focused mineral exploration and development company, is pleased to
    announce that it has closed its previously announced private placement
    offering of units of the Company, led by Pollitt & Co., together with
    Echelon Wealth Partners Inc. and M Partners Inc., as agents (the 'Agents').

    The Company issued an aggregate of 36,000,000 units (each a 'Unit') of the
    Company, with each Unit comprised of one ordinary share of the Company and
    one-half of one ordinary share purchase warrant (each whole warrant, a
    'Warrant'), at a price of C$0.10 per Unit for total aggregate gross
    proceeds of C$3.6 million (the 'Offering'). Each Warrant will entitle the
    holder thereof to acquire one ordinary share of the Company at a price
    C$0.20 until February 17, 2019.

    The Company (i) paid a total cash commission to the Agents equal to 6.0% of
    the gross proceeds of the Offering, and (ii) issued broker warrants (the
    'Broker Warrants') equal to 6.0% of the securities sold pursuant to the
    Offering. Each Broker Warrant entitles the holder to acquire one ordinary
    share of the Company at a price of $0.10 until February 17, 2019.

    The Offering constituted a related party transaction within the meaning of
    TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ('MI
    61-101') as insiders of the Company subscribed for an aggregate of 600,000
    Units. The Company is relying on the exemptions from the valuation and
    minority shareholder approval requirements of MI 61-101 contained in
    sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the
    participation in the Offering by insiders does not exceed 25% of the market
    capitalization of the Company, as determined in accordance with MI 61-101.

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    DGAP-News Royal Road Minerals Closes C$3.6 Million Brokered Private Placement Financing DGAP-News: Royal Road Minerals Limited / Key word(s): Miscellaneous Royal Road Minerals Closes C$3.6 Million Brokered Private Placement Financing 17.02.2017 / 23:15 The issuer is solely responsible for the content of this announcement. Toronto, …