Republic Goldfields (ME) has arranged US$1.575 million in equity financing. It consists of a private placement, outside North America, of up to 700,000 units at US$2.25 each.
Each unit consists of one common share and one half warrant exercisable at US$2.625 for two years. The company may require that the warrants be exercised before two years, if Republic shares trade above US$4 on the American Stock Exchange.
The proceeds will be used to fund a prefeasiblity study and acquisition of the Ellison gold property in northern Quebec.
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