Alberto Lavandeira-led Rio Narcea Gold Mines (RNG-T) has completed a private placement of 8 million special warrants at 80 each.
Haywood Securities acted as agent for the private placement and subscribed to 1 million additional special warrants at the same price itself bringing the total number of special warrants sold to 9 million and aggregate proceeds to $7.2 million.
One warrant allows the holder to buy, without further payment, one Rio Narcea share.
The proceeds will be used for working capital.
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