RE:"Excellent Assets"Funding round announced one share at 0.12c no warrant? Looks like they are slowing fish on dilution
maybe time to show RN stock some love and appreciation soon
Rio Novo Gold closes $1.47-million private placement
2017-02-15 10:23 ET - News Release
Mr. Patrick Panero reports
RIO NOVO GOLD ANNOUNCES CDN. $1.5 MILLION NON-BROKERED PRIVATE PLACEMENT
Rio Novo Gold Inc. has completed a non brokered private placement of 12,271,763 ordinary shares of the company to Adair Investments Ltd., a private Bahamas-based company, at an issue price of 12 cents per share, for an aggregate subscription amount of $1,472,612.
The number of ordinary shares issued by this private placement is 7.37 per cent of the currently outstanding ordinary shares, and the issue price was at an approximately 17-per-cent discount to the five-day volume-weighted average market price as at the date of the agreement. These shares are subject to the four-month hold period prescribed under Canadian securities laws.
The proceeds of the private placement have been used for exploration licence option payments in respect of the company's Almas project.
About Rio Novo Gold Inc.
Rio Novo is focused on the acquisition, exploration and development of gold properties in Brazil and Colombia.
The company's goal is to become a producer of gold by bringing the Almas gold project, located in the state of Tocantins in Brazil, into production. The Almas project enjoys both established infrastructure and main grid hydro power in a proven and mining friendly jurisdiction, and is permitted for construction.
We seek Safe Harbor.
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