Private placement.https://satprnews.com/2017/01/11/strategic-investment-in-macarthur-minerals/
Details of the Strategic Investment
Macarthur has entered into a share subscription agreement and received gross funds of C$243,750 from the Tulshyan Group for a private placement of 3,750,000 shares of Macarthur at a price of C$0.065 per share, to be held by the Company in escrow until closing.
The closing of the placement will occur as soon as possible after and subject to receipt of all necessary regulatory approvals including that of the TSX-V. The net proceeds from the private placement will be used for working capital purposes. The securities issued under the private placement will be subject to a statutory four-month plus one day hold period from the date of issuance.
After the closing of the placement, REM will hold approximately 16.15% of the issued equity of Macarthur and an option over a further 7,500,000 shares exercisable at C$0.05 per share.