Friday, March 17, 2017: RT MINERALS CORP. CLOSES FINANCING
Vancouver, B.C. – March 17, 2017 ‐ RT Minerals Corp. (TSX.V: RTM) (the “Company”) announces that, further to its news releases of February 21 and March 6, 2017, the Company has closed a private placement of 300 units (the “Units”) for total gross proceeds of $420,000 (the “Offering”). Each Unit is priced at $1,400 and is comprised of 10,000 flow-through common shares, 10,000 non flow-through common shares, and 20,000 share purchase warrants exercisable at $0.10 for a term of two years. The Unit pricing is equivalent to $0.07 per share and a whole warrant attached to each share that is exercisable into one further common share at a price of $0.10 for a term of two years. The Offering was oversubscribed by 15 Units. Insiders purchased 25 Units.
All securities issued in the private placement are subject to a hold period expiring July 18, 2017.
A 10% commission comprised of $3,710 cash and 53,000 common shares at $0.07 per share will be paid to registered representatives on $74,200 of the offering.
The proceeds from the sale of the flow-through portion of the Offering will be used for exploration activity on the Company’s 100% owned, subject to retained royalty, Ballard Lake diamond and gold property and 100% optioned Norwalk gold property, both located near Wawa, Ontario. The proceeds from the sale of the non flow-through portion of the Offering will be used for general working capital.
FOR FURTHER INFORMATION CONTACT:Paul Antoniazzi
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
The Canadian National Stock Exchange has neither approved nor disapproved of the information contained herein.