Toronto (pcJ News Briefs) – Rainmaker Resources Inc. (TSX-V: RIR) has closed previously announced non-brokered private placement of 5,200,000 common shares at a price of $0.05 per share for aggregate gross proceeds of $260,000.
No finder’s fees were paid in connection with the offering.
Directors Chris Healey and Isaac Maresky, as well as CFO Daniel Vinegar, participated in the financing.
Rainmaker Resources used a portion of the proceeds to repay all outstanding convertible debentures issued and announced as at September 22, 2016, in the amount of $72,770.
Rainmaker Resources Inc. controls the option to acquire the Sarcobatus Flats lithium project in Nevada, along a highway near the only producing Lithium mine in the United States. The recently completed National Instrument 43-101-compliant technical report noted “The geologic setting of the Project is similar to that of producing Lithium brine deposits in the Clayton Valley approximately 45 air miles north of the Project.” Additionally, Rainmaker currently owns a 12.5% joint venture interest in Dufferin Lake – a uranium asset in the Athabasca Basin of Saskatchewan. Dufferin Lake is operated by NexGen Energy.
photo credit: Rainmaker Resources