RT Minerals Corp. Closes First Tranche of Financing and Announces Appointment of Director and Officer
TSX VENTURE: RTM
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2018) - RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFD) (the "Company") announces that, further to its news release of July 17, 2018, the Company has closed the first tranche of a private placement to raise gross proceeds of $240,000 (the "Offering") through the sale of 4,000,000 units priced at $0.06 (the "Units"). Each Unit consists of one common share and one share purchase warrant exercisable into one further common share at a price of $0.08 for a term of two years.
All securities issued in the private placement are subject to a hold period expiring January 1, 2019.
The proceeds from the Offering will be used for general working capital. Insiders purchased 1,675,000 Units. No finder's fees were paid on the Offering.
The TSX Venture Exchange has granted the Company an extension until September 7, 2018, to close the balance of the proposed Offering.
The Company is pleased to announce the appointment of Mr. Donald M. Clark as the new Chairman, President, Chief Executive Officer and Director of the Company effective immediately. Mr. Clark was previously President, Chief Executive Officer and Director of the Company from March 9, 2007 to August 3, 2012.
Mr. Edmond Hatoum has resigned as Chairman, President and Chief Executive Officer, but he remains a director of the Company.
For more information on the Company and its properties, please visit the Company's website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Donald M. Clark
Chairman, President and Chief Executive Officer
RT Minerals Corp.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.