Revolver Resources Inc. announced that it was setting up a non-brokered private placement investment. The financing was about 10 million units worth US$0.03 per unit. This was anticipated to raise gross income of around US$300,000.
Every unit would comprise of Revolver's common share including a transferable share acquisition warrant. Furthermore, each warrant would be exercisable to purchase an additional common stock. The price would then be US$0.10 per share for two years.
The value of the private placement was in accordance with the temporary relief measures. This was launched by TSX Venture Exchange. Consequently, the private placement and its pricing required endorsement of the Exchange.
The securities released under the placement were still dependent on resale restrictions.
Revolver recently had an agreement with Pistol Bay Mining Inc. Revolver could earn up to 60% interest in the Summit B property. The said asset was about 1,2394 hectares and was connected with Colorado Resources Ltd.'s North Rok copper-gold property
Join the Conversation