/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
SUBIACO,
Western Australia, April 16,
2015 /CNW/ - RTG Mining Inc. (TSX: RTG, ASX: RTG) ("RTG" or
the "Company") is pleased to announce that it has successfully
completed the issuance of 5.49 million shares at A$0.68 cents per share for proceeds of circa
A$3.73 million as part of tranche 2,
in the completion of its A$15 million
private placement ("Placement").
Placement Details:
The Placement consists of 22.3 million additional shares to be
issued at a price of A$0.68 cents per
share to raise total funds of circa A$15.1
million. The shares were issued in two tranches as
below:
- Tranche 1 - Comprised 16.79 million shares and subscription
receipts (together, the "Securities") at A$0.68 cents per share to raise approximately
A$11.4 million, issued on
18 February 2015, pursuant to ASX
Listing Rules 7.1 and section 607 of the TSX Listing Rules;
and
- Tranche 2 - Comprising 5.49 million shares at A$0.68 cents per share to raise approximately an
additional A$3.7 million, (a) a
portion of which were issued on 18 February
2015 to certain investors as subscription receipts to
acquire shares, and (b) the remainder of which were issued to
Australian and other international investors following receipt of
shareholder approval at a meeting of shareholders held on the
April 10, 2015.
The Securities issued pursuant to the Placement to subscribers
in Canada are subject to a four
month and one day hold period expiring June
19, 2015 under applicable Canadian securities laws.
Hartleys Limited and GMP Securities Australia Pty Ltd acted as
Australian Joint Lead Managers and Haywood Securities Inc.
(including Ecoban Securities Corporation) acted as North American
Lead Manager.
ABOUT RTG MINING INC.
RTG Mining Inc. is a mining and exploration company listed on
the main board of the Toronto Stock Exchange and Australian
Securities Exchange Limited. RTG is focused on developing the
high grade copper/gold/magnetite Mabilo Project and advancing
exploration on the highly prospective Bunawan Project, both in
the Philippines, while also
identifying major new projects which will allow the Company to move
quickly and safely to production.
RTG has an experienced management team (previously responsible
for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited),
and has B2Gold Corp. as one of its major shareholders in the
Company. B2Gold Corp. is a member of both the S&P/TSX Global
Gold and Global Mining Indices.
CAUTIONARY NOTE STATEMENT
Certain statements contained in this announcement constitute
forward looking statements within the meaning of applicable
securities laws including, among others, statements made or implied
relating to the Private Placement and the anticipated closing
thereof, the Company's objectives, strategies to achieve those
objectives, the Company's beliefs, plans, estimates and intentions,
and similar statements concerning anticipated future events,
results, circumstances, performance or expectations that are not
historical facts. Forward looking statements generally can be
identified by words such as "objective", "may", "will", "expect",
"likely", "intend", "estimate", "anticipate", "believe", "should",
"plans" or similar expressions suggesting future outcomes or
events. Such forward looking statements are not guarantees of
future performance and reflect the Company's current beliefs based
on information currently available to management. Such statements
involve estimates and assumptions that are subject to a number of
known and unknown risks, uncertainties and other factors inherent
in the business of the Company and the risk factors discussed in
the Annual Information Form and other materials filed with the
securities regulatory authorities from time to time which may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied by such forward looking
statements. Those risks and uncertainties include, but are not
limited to: market conditions and demand for the Offering; the
mining industry (including operational risks; risks in exploration,
and development; the uncertainties involved in the discovery and
delineation of mineral deposits, resources or reserves; and the
uncertainty of mineral resource and mineral reserve estimates); the
risk of gold, copper and other commodity price and foreign exchange
rate fluctuations; the ability of the Company to fund the capital
and operating expenses necessary to achieve the business objectives
of the Company; the uncertainty associated with commercial
negotiations and negotiating with foreign governments; the risks
associated with international business activities; risks related to
operating in Nigeria and
the Philippines; environmental
risk; the dependence on key personnel; and the ability to access
capital markets.
Readers are cautioned not to place undue reliance on these
forward looking statements, which speak only as of the date the
statements were made and readers are advised to consider such
forward looking statements in light of the risks set forth above.
Except as required by applicable securities laws, the Company
assumes no obligation to update or revise any forward looking
statements to reflect new information or the occurrence of future
events or circumstances.
SOURCE RTG Mining Inc.