Riverside Resources (TSXV: RRI) this morning announced that it will be conducting a small charity flow through private placement offering. Funds from the proceeds are to be used for the exploration of its property in Ontario.
Under the terms of the offering, the firm will look to sell 2.9 million common shares of the company at a price of $0.21 per share. Proceeds from the offering are expected to amount to $600,000. No warrant is being included with the offering, with the firm itself having no warrants outstanding.
Proceeds from the financing will be used for a drill program planned for the first half of 2022 at the firms Oakes Gold Project, located in Ontario. Proceeds will also be utilized for follow-up work related to trenching and IP work conducted during last year’s exploration season.
A closing date for the offering was not provided.
Riverside Resources last traded at $0.165 on the TSX Venture.
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