Rye Patch Gold Completes $354,600 Private Placement

Rye Patch Gold Corp. has finshed a private placement, for 2,955,000 units at 12 cents per unit, with gross proceeds of $354,600. Each unit contains one share and one warrant; the warrants have strike price of 15 cents and life of two years. As is the case for all private placements, it's subject to TSX Venture final approval. Proceeds are to be used for exploration and development of Rye Patch's properties, acquisitions and working capital. The news release contains further details, including the $14,616 fee.

Rye Path has not traded yet today. It closed yesterday at 11.5 cents, down 2 cents on light volume. The current bid-ask is 12 cents - 13 cents.

The company's Google Finance web page is here.

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