Rainy Mountain Adds Non-Flow Through Offering to Recently Announced Private Placement
West Vancouver, British Columbia, December 6, 2017 – By news release dated November 7, 2017, Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) announced, subject to regulatory approval, that it is proceeding with a flow through non-brokered private placement to raise up to $250,000 by the issuance of 5,000,000 flow through units (the “FT Units”) at $0.05 per FT Unit (the “FT Offering”). Each FT Unit will consist of one flow through common share and one non-flow through share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share for a period of two years at an exercise price of $0.10.
The Company now intends, subject to regulatory approval, to add a non-flow through offering (the “NFT Offering”) to the private placement. Under the NFT Offering, Rainy Mountain intends to raise up to an additional $50,000 by the issuance of 1,000,000 non-flow through units (the “NFT Units”) at $0.05 per NFT Unit. Each NFT Unit will consist of one non-flow through common share and one non-flow through share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share for a period of five years at an exercise price of $0.07.
With respect to the NFT and FT Offerings, the Company may pay finders’ fees in the amount of 10% (payable in cash or NFT Units), based on the sale of NFT Units and the FT Units purchased by the subscriber introduced to the Company by such finders.
The Company intends to use the proceeds from this private placement for furthering exploration on its optioned gold exploration Brunswick Property in Ontario, and for general working capital purposes.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.rmroyalty.com.
Rainy Mountain Royalty Corp.
“Douglas L. Mason”
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Douglas L. Mason, President & CEO
Neither the 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.
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, including the finders’ fees that may be paid by the Company and the intended use of proceeds of this private placement, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
