Rhonda arranges two financingsApologies for the formatting ... it's a direct cut and paste.
Rhonda arranges two financings
Rhonda Corp RDM
Shares issued 26,618,656 Nov 1 close $0.39
Thu 1 Nov 2001 News Release
Mr. Robert d'Artois reports
Rhonda is offering 100 units, each consisting of 25,000 flow-through common
shares and a warrant for 25,000 flow-through common shares at 60 cents per
share expiring on Dec. 31, 2002, at a subscription price of $10,000 per
unit. The net proceeds of this offering will be added to the corporation's
working capital to cover exploration expenses to be incurred primarily in
diamond exploration on its 100-per-cent-owned Inulik property in Nunavut.
Subscribers will receive a Canadian exploration expense deduction equal to
100 per cent of their investment and a 15-per-cent non-refundable tax
credit to be applied against their 2001 taxable income.
Rhonda Corporation also announces the private placement, subject to
regulatory approvals, of 450,000 shares at 37 cents per share accompanied
by warrants for an additional 450,000 shares exercisable at 40 cents per
share, expiring Nov. 1, 2003.