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      News Release

      Home /  News Release
       
      News Releases 2014

      News Release

      • Rainy Mountain Royalty
      • November 7, 2014
      Trading symbol: TSX-V: RMO
      News Release No. 14-09

      Rainy Mountain Closes Non-Brokered Private Placement

      West Vancouver, British Columbia – November 7, 2014 – Further to the Company’s news release of October 31, 2014, Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to announce that the Company has closed its non-brokered private placement (the “Private Placement”) and has raised $102,375 by the issuance of 1,575,000 units (the “Units”) at $0.065 per Unit. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of $0.10.  All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on March 7, 2015. The Company intends to use the proceeds from this Private Placement for exploration property expenditures and for general working capital purposes.

      Early Warning Disclosure

      In connection with the Private Placement, Douglas Mason, the Chief Executive Officer and a director of the Company, announces that he acquired, direct or indirect, ownership of 500,000 Units of the Company at a price of $0.065 per Unit. As a result, Douglas Mason now has, direct or indirect, ownership of 2,818,875 common shares of the Company representing approximately 19.56% of the issued and outstanding common shares of the Company. In addition, Mr. Mason holds stock options to purchase an additional 193,500 common shares of the Company and also holds warrants for the purchase of an additional 1,800,000 common shares of the Company. If these stock options and warrants were exercised in full, Mr. Mason would own, directly or indirectly, 4,812,375 common shares of the Company representing approximately 29.34% of the Company’s then issued and outstanding common shares, assuming no other shares of the Company are issued. Douglas Mason acquired the Units for investment purposes and he may increase or decrease his ownership position in the future.

      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.

      “Sead Hamzagic”
      _____________________________________
      Sead Hamzagic, Chief Financial Officer

      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.

       

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      Rainy Mountain Royalty Corp. is a Canadian based mineral exploration project generator.

      2489 Bellevue Avenue
      West Vancouver, BC
      V7V1E1

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      Recent News

      • Rainy Mountain’s Brunswick Property Drill Program Traces Anomalous Gold in Shear Zones March 1, 2018
      • Rainy Mountain Closes Third (Final) Tranche of Non-Brokered Private Placements January 17, 2018

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