Kenorland Minerals

Rugby Resources Announces Increase in Non-Brokered Private Placement

Vancouver, B.C., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Rugby Resources Ltd. (“Rugby” or the “Company”) (TSX-V: RUG) announces that due to subscriber demand, its board of directors has approved an increase to its private placement offering. The increased offering will consist of up to 19,666,666 units (the “Units”), up from the 8,333,333 Units previously announced on February 7, 2024. The terms of the private placement financing will remain the same and each Unit will be offered at a price of $0.06 per Unit for gross proceeds of $1,180,000 (the “Offering”).

Each Unit will consist of one (1) common share and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one (1) additional common share of the Company at an exercise price of $0.10 for a period of two (2) years from the date of the close.

All securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. Closing of the Offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange.

Proceeds of the Offering will be used for exploration and general expenses.

For additional information you are invited to visit the Rugby Resources Ltd. website at www.rugbyresourcesltd.com

Rob Grey, VP Corporate Communications Suite 1890 – 1075 West Georgia St.
Tel: 604-688-4941 Fax: 604-688-9532 Vancouver, BC Canada. V6E 3C9
Toll free: 1-855-688-4941 This email address is being protected from spambots. You need JavaScript enabled to view it.

NEITHER 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

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

ELEMENTAL ALTUS ROYALTIES

Elemental Altus Royalties

Elemental Altus Royalties is an income generating precious metals royalty company with 11 producing royalties and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on acquiring uncapped royalties... LEARN MORE