VANCOUVER, BC / ACCESSWIRE / December 7, 2017 / Roughrider Exploration Limited (TSX-V: REL) ("Roughrider" or the "Company") has arranged a non-brokered private placement. The private placement consists of the sale of flow-through (FT) units at a price of six cents per FT unit for aggregate proceeds of up to $200,000 and the sale of non-flow-through (NFT) unit at a price of five cents per NFT share for aggregate proceeds of up to $300,000. The FT units consist of one flow-through common share and one-half of one share purchase warrant. The NFT unit consists of one common share and one whole share purchase warrant. Each whole warrant entitles the holder to purchase one non-flow-through common share at a price of 10 cents per common share for two years from the closing date. The proceeds of the private placement will be used for debt settlement, as well as for general working capital purposes and further work on Roughrider's Genesis uranium project.
Closing of the Private Placement remains subject to the approval of the TSX Venture Exchange. All the securities issued under the Private Placement are subject to a hold period expiring four months and one day from the date of issuance.
About Roughrider Exploration Limited
Roughrider and its partner, Kivalliq Energy, are exploring the Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. In addition, Roughrider recently acquired an option to earn a 100% interest in the Iron Butte project in Nevada which contains a historic bulk tonnage gold resource and has now added the Silver Ace and Sterling projects in central British Columbia.
