RT MINERALS CORP. (TSX.V: RTM) is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base metal mineral properties in Canada. The Company was incorporated on March 9, 2007 under the Business Corporations Act of British Columbia and is a reporting issuer in British Columbia, Alberta and Ontario. The Company's common shares were approved for listing on the TSX Venture Exchange ("TSXV") and commenced trading on August 5, 2011 under the symbol "RTM".
The Company holds interests in the following mineral resource properties in Canada:
On May 16, 2016, the Company closed a private placement of 4,500,000 flow-through units (the “FT Units”) and 4,000,000 non flow-through units (the “NFT” Units) for total gross proceeds of $425,000 (the “Offering”). Each FT Unit and NFT Unit is priced at $0.05 and is comprised of a share and a warrant exercisable at $0.05 for a term of five years. The Offering was oversubscribed by 500,000 FT Units.
Insiders purchased 425,000 FT Units and 325,000 NFT Units. All securities issued in the private placement are subject to a hold period expiring September 17, 2016. A 1% commission will be paid to a registered representative on $160,500 of the offering.
The proceeds from the sale of the FT Units will be used for exploration activity on the Company’s 100% owned, subject to retained royalty, Ballard Lake gold property, located in the Echum and Dolson Townships in the Sault Ste Marie Mining Division, Ontario. The proceeds from the sale of the NFT Units will be used for general working capital.
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. We seek safe harbour.