Vancouver, British Columbia–(Newsfile Corp. – July 26, 2017) – Rainy Mountain Royalty (TSXV: RMO) (FSE: EK7N) announced a non-brokered private placement. The company plans to raise up to $250,000 through the offering of up to 2,500,000 flow through shares at $0.10 per share.
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Rainy Mountain Royalty Corp. has three flagship assets plus an active portfolio of early stage projects.
The company will use the funds to further explore its Brunswick gold exploration property, which is located 140 kilometres south of Timmons, Ontario.
Trenching and sampling on the west grid of the property to follow up on the recent discovery of a grab sample that assayed 6.6 grams per tonne gold found in pyritic volcanic tuffs is planned. Drilling is proposed after this new pyritic horizon is better understood and has been exposed and sampled along its length. Management believes mapping and prospecting along the full length of the 6 mile long Property is warranted given the shears and alteration seen to date. The pathfinder elements suggest additional gold mineralized zones could occur along strike and at depth.
The shares are trading at $0.085, and with 45.9 million shares outstanding, the company is capitalized at $3.9 million.
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