RooGold Closes Out $3.2 Million Financing

RooGold Inc (CSE: ROO) this morning announced the closing of a second tranche of its private placement. With the closing of the second tranche, the financing is now complete, having raised gross proceeds of $3.2 million.

The financing itself saw units of the company sold at a price of $0.25 per unit, with each unit consisting of one common share and one half of a purchase warrant. Warrants are valid for a period of two years from the date of issuance and contain an exercise price of $0.40 per share.

Warrants under the financing also have an acceleration clause, enabling the company to force the exercise of warrants should the equity trade above $0.50 per share for a period of 30 consecutive days.

Proceeds from the financing are to be used for the first phase of exploration at its Australian properties, as well as for marketing, working capital, and as a reserve for exploration on properties that have been conditionally acquired.

RooGold last traded at $0.21 on the CSE.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive has been compensated to provide coverage on this company. The company has been compensated to cover this story on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

200 Grams of Gold And 21% Copper — That’s Not Normal | Matt Wilson – Sterling Metals

Silver at $100? This Time It Might Stay There. | David Morgan

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Company Profile: RooGold Inc

RooGold Inc. (CSE: ROO) is a Canadian mineral exploration company focused on the acquisition and...

Saturday, July 2, 2022, 05:05:00 PM

RooGold Enters Land Access Agreements At Top Two Ranked Concessions

RooGold Inc (CSE: ROO) continues to make steady progress as it relates to gaining access...

Tuesday, March 29, 2022, 10:36:00 AM

RooGold Assays 22.1 g/t Gold In Rock Chip Samples At Lorne Project

RooGold (CSE: ROO) earlier this week reported that it has received assays back from its...

Friday, August 26, 2022, 09:10:12 AM

RooGold Closes Out Sampling Program At Arthurs Seat Project

RooGold (CSE: ROO) has completed a rock chip sampling program conducted at its Arthurs Seat...

Thursday, June 23, 2022, 12:28:02 PM

RooGold Closes On Purchase Of Australian Precious Metals Properties

RooGold Inc (CSE: ROO) has closed on the acquisition of its mineral properties. The firm...

Wednesday, January 26, 2022, 09:46:00 AM