Rapier Gold closes $1.4M private placement

Vancouver (pcJ News Briefs) – Rapier Gold Inc. (TSX-V: RPR) has closed previously announced non-brokered private placement of 13,780,000 units at $0.10 per unit for gross proceeds of $1,378,000.

Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.13 for a period of two years.

“We are very pleased with the support that we received in completing this equity financing. The proceeds from this financing will allow us to focus on enhancing the value of the Company through continuing exploration activities on our Pen Gold Property, as well as to examine and evaluate all other alternatives in order to best maximize value for our shareholders,” said David Lotan, interim President and CEO.

photo credit: Rapier Gold