GREY:RNKLF - Post by User
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thedave2006on Sep 26, 2018 8:05am
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Post# 28690936
news
newsno more worries over a private placement? pullback b/c of parabolic move not a financing.
ORIGINAL: RNC Minerals Adds an Additional $8.4 Million Cash Through Warrant Exercises
2018-09-26 07:56 ET - News Release
TORONTO, Sept. 26, 2018 /CNW/ - RNC Minerals (TSX: RNX) ("RNC"), is pleased to announce that 19,356,772 million common share warrants have been exercised at prices ranging from $0.24 to $0.50 per share, for total proceeds of $8.4 million.
"These exercises delivered a total of $8.4 million in additional cash to RNC. This infusion, in addition to the $38 million in cash to be received from the sale of the previously announced 24,000 ounces of gold recovered from the Fathers Day Vein discovery, will allow the company to repay all of its debt and achieve a substantial net cash position. This cash is expected to fully fund all corporate activities for the foreseeable future, including most importantly the upcoming exploration program at Beta Hunt. With exploration and development ongoing, we will continue to provide timely updates on this very important gold discovery." said Mark Selby, President and CEO of RNC.