Rugby Resources Ltd. closes oversubscribed private placement for $922,000

From GlobeNewswire: 2024-06-06 13:32:00

Rugby Resources Ltd. has closed an oversubscribed private placement, issuing 18,440,000 units at $0.05 per unit for gross proceeds of $922,000. Each unit includes one common share and one warrant to purchase an additional share for $0.10 within two years. Insiders participated in the offering, including Rowen Company Limited acquiring 2,000,000 units. Proceeds will fund exploration and general expenses. All securities issued are subject to a four-month hold period. Final acceptance by the TSX Venture Exchange is pending regulatory approval. For more information, visit the Rugby Resources Ltd. website.



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