VANCOUVER, Dec. 10 /PRNewswire/ -- RT Minerals Corp. ("RTM" / the "Company") (CNSX: RTM) announces three separate non-brokered private placement unit offerings as follows.
A unit offering consisting of 3,750,000 units at $0.16 per unit for gross proceeds of $600,000. Each unit consists of one common share and a half warrant attached to each share. One whole warrant entitles the holder to acquire one further common share of the Company at $0.20 per share for a two year term.
A flow-through unit offering consisting of up to 7,000,000 units at $0.20 per unit for gross proceeds of up to $1,400,000. Each unit consists of one flow-through common share and a half warrant attached to each share. One whole warrant entitles the holder to acquire one further common share of the Company at $0.20 per share for a two year term. Insiders will subscribe for up to 1,500,000 units of this offering.
A structured flow-through unit offering consisting of 3,593,750 units at $0.28 per unit for gross proceeds of $1,006,250. Each unit consists of one flow-through common share and a half warrant attached to each share. One whole warrant entitles the holder to acquire one further common share of the Company at $0.20 per share for a two year term.
The Company will pay a finders fee of 6% cash and 6% compensation warrants to Toll Cross Securities Inc. in connection with the above private placements.
Proceeds from the above private placements will be used for general administrative purposes and to fund exploration programs primarily on the Bazooka gold property, Quebec and the Meunier JV Property, Ontario, for at least the next 12 months.
In addition, the Company has completed and filed an NI 43-101 report for the Bazooka gold property, Quebec, on SEDAR. The acquisition of the Bazooka property is subject to RTM shareholder approval at the Company's December 30, 2010 Special General Meeting.
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The forgoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.
RT Minerals Corp.
CONTACT:
Jonathan Samuda
Corporate Secretary
Tel: (604) 681-3170
Fax: (604) 681-3552
Website: href="http://www.rtmcorp.com/">http://www.rtmcorp.com/
