Royal ROAD Minerals Closes Private Placement Offering
NEWS RELEASE
ROYAL ROAD MINERALS CLOSES PRIVATE PLACEMENT OFFERING
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
November 20, 2019 – Toronto, Ontario: Further to its press release of October 21, 2019,
Royal Road Minerals Limited (TSXV:RYR) (the “ Company”), a gold and copper focused
mineral exploration and development company, is pleased to announce that it has closed its
previously announced private placement (the “Offering”), pursuant to which the Company
issued an aggregate of 13,636,364 ordinary shares (“Ordinary Shares”) in the capital of the
Company at a price of C$0. 22 per Ordinary Share for aggregate gross proceeds of
C$3,000,000.
Pursuant to the investor rights agreement between the Company and Agnico Eagle Mines
Limited (“ Agnico”) dated May 23, 2019, Agnico has purchased such number of Ordinary
Shares in the Offering that result in Agnico maintaining its pro -rata ownership interest in the
Company.
In connection with the Offering, the Company paid a total cash commission equal to 6.0% of
the aggregate gross proceeds, and issued broker warrants (the “Broker Warrants”) equal to
6.0% of the Ordinary Shares sold, to Pollitt & Co. Inc., the Company’s agent in connection with
the Offering. Each Broker Warrant entitles the holder to acquire one Ordinary Share at a price
of $0.22 until November 20, 2021.
The net proceeds received by the Company from the Offering are expected to be used to
finance the Company’s planned exploration operations in Colombia and Nicaragua and for
general working capital purposes . All Ordinary Shares issued pursuant to the Offering are
subject to a statutory four month and one day hold period, which expires on March 21, 2020.
Cautionary statement:
This news release may contain certain information that constitutes forward -looking statements.
Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,”
“intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions
“may” or “will” occur and include statements regarding the use of proceeds fro m the private placement
transaction. Forward-looking statements are based on the opinions and estimates of management at
the date the statements are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from those projected in the forward-
looking statements. These factors include the inherent risks involved in the Offering, the exploration
and development of mineral properties, the hiring and retention of directors and officers, the
uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices,
permitting and licensing and other facto rs described above and in the Company’s public documents
filed on SEDAR at www.sedar.com. The Company disclaims any obligation to update or revise any
forward-looking statements if circumstances or management’s estimates or opinions should change.
The reader is cautioned not to place undue reliance on forward-looking statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any Ordinary
Shares nor shall there be any sales of the Ordinary Shares in any jurisdict ion in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities laws of
such jurisdiction. The Ordinary Shares have not been and will not be registered under the U.S.
Securities Act of 1933, as am ended (the “U.S. Securities Act”), or any state securities laws and may
not be offered or sold within the United States unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available .
For further information please contact:
Dr. Tim Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800
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.