Rathdowney Announces Private Placement of up to $2 Million
Rathdowney Announces Private Placement of
up to $2 Million
VANCOUVER, BC
,
July 29, 2021
/CNW/ - Rathdowney Resources Ltd. ("Rathdowney" or the
"Company") (TSXV: RTH) announces that it plans to complete a private placement of up to
57,142,857 units ("Units") of the Company at a price of
$0.035
per Unit for aggregate gross
proceeds of up to approximately
$2,000,000
.
Each Unit will consist of one common share ("Share") and one common share purchase warrant (a
"Warrant"). Each Warrant can be exercised for a five year period from the Closing Date at
$0.10
per Warrant Share. In the event that the closing price of the common shares of the Corporation is at
or above
$0.12
per share for a period of 10 consecutive trading days during the warrant exercise
period (with the 10th such trading day hereafter referred to as the "Eligible Acceleration Date"), the
warrant expiry date shall accelerate to the date that is 60 days after the Eligible Acceleration Date.
The Units, Shares and Warrant Shares will be subject to applicable resale restrictions, including a
four month hold period from date of closing of the Offering under applicable Canadian securities
laws. Completion of the Offering is subject to regulatory approval, including approval of the TSX
Venture Exchange.
Proceeds will be used to advance permitting and engineering activities on the Company's Olza zinc-
lead-silver project in
Poland
, as well as for general corporate working capital purposes.
On behalf of the Board of Directors
David J. Copeland
, P.Eng.
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This release includes certain statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical facts, that address exploration drilling,
exploitation activities and events or developments that the Company expects, are forward looking
statements. Although the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those in the forward-
looking statements. Assumptions used by the Company to develop forward-looking statements
include the following: the Olza project will obtain all required environmental and other permits and all
land use and other licenses, studies and development of the Olza project will continue to be positive,
and no geological or technical problems will occur. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices, exploitation and
exploration successes, continuity of mineralization, potential environmental issues and liabilities
associated with exploration, development and mining activities, uncertainties related to the ability to
obtain necessary permits, licenses and title and delays due to third party opposition, changes in
government policies regarding mining and natural resource exploration and exploitation, continued
availability of capital and financing, and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the forward-looking statements. For
more information on the Company, investors should review the Company's continuous disclosure
filings that are available at
www.sedar.com
.
SOURCE
Rathdowney Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/July2021/29/c8227.html
%SEDAR: 00029300E
For further information:
on Rathdowney and Project Olza, please visit
www.rathdowneyresources.com.
CO: Rathdowney Resources Ltd.
CNW 19:03e 29-JUL-21