On July 22, 2008, Regis Resources Limited (ASX: RRL) announced the completion of its previously announced private placement, issuing 98,150,000 Units at a price of A$0.20 per Unit for gross proceeds to Regis Resources of A$19.6 million. Each Unit consists of one fully paid ordinary share and one half a Warrant. Each whole Warrant is exercisable into one ordinary share by payment of A$0.28 at any time within 24 months of the date of issue.
Proceeds from the offering will be used to fund the completion of the feasibility study for the Duketon Gold Project, acquisition of capital items for the development of the project, on-going exploration and for working capital.
The offering was placed by a syndicate of agents co-led by CIBC World Markets Inc. and BMO Capital Markets and including Cormark Securities Inc.
The agents were advised by a team from Fasken Martineau led by Rob Mason and that included Karoline Kralka and Amanda Fullerton.