Newsletter

Why sign up? Click here

Show Privacy Policy
RT Minerals Corp. values privacy as much as you do. We will never sell or rent your email address to anyone under any circumstances.

If you have specific concerns about this policy, please feel free to contact us with your questions or comments.

News Release

Tuesday, October 8, 2019: RT MINERALS CORP. ANNOUNCES PRIVATE PLACEMENT AND TSXV APPROVAL OF NORWALK PROPERTY OPTION AGREEMENT AMENDMENT

Vancouver, B.C. – October 8, 2019 ‐ RT Minerals Corp. (TSX.V: RTM) (OTC Pink: RTMFD) (the “Company”) announces that it proposes to undertake a private placement to raise gross proceeds of up to $150,000 (the “Offering”) through the sale of up to 5,000,000 units priced at $0.03 (the “Units”). Each Unit consists of one common share and one half of a share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.05 for a term of one year. Insiders will subscribe for up to $140,000 of the Offering.

The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the “Existing Shareholder Exemption”) and similar provisions in other jurisdictions’ securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions’ securities legislation.

The Company has set October 8, 2019 as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below. If the Offering is oversubscribed, units will be allocated pro rata amongst all subscribers.

The proceeds from the Offering will be used to pay trade payables, general working capital and for the cash payments of the Company’s option on the Norwalk gold property in Wawa, Ontario.

Finders’ fees may be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange (“TSXV”).

The Offering is subject to the approval of the TSXV.

Amendment to Norwalk Property Option Agreement

Further to the Company’s news release of October 3, 2019 and the bulletin dated October 5, 2016, the TSX Venture Exchange has accepted for expedited filing documentation pertaining to an amendment dated September 20, 2019 to an option agreement dated September 20, 2016 between the Company and optionors, Michael Tremblay and Philip Escher, pursuant to which the Company has the option to acquire a 100% interest in a 29 claim unit gold property located in Rabazo and McMurray Townships, Wawa, Ontario, known as the Norwalk gold property.

The final option payment has been amended as follows: cash of $22,500 and 200,000 common shares on or before October 15, 2019 and cash of $22,500 and 200,000 common shares on or before March 31, 2020. The acquisition is subject to a 2% net smelter return royalty.

For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.

FOR FURTHER INFORMATION CONTACT:

Donald M. Clark
Chairman, President and Chief Executive Officer
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552

 

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.

Disclaimer

The Canadian National Stock Exchange has neither approved nor disapproved of the information contained herein.

Read more News