Raging River Exploration Inc. (TO: RRX) entered an increased bought-deal financing of 14 million common shares sold at $5.60 per share.
The financing was increased from 12.5 million common shares. The company expects gross proceeds of $78.4 million.
Net proceeds will be initially used to repay outstanding indebtedness which will be redrawn to fund the acquisition of properties in the Dodsland area of southwest Saskatchewan.
FirstEnergy Capital Corp. leads the syndicate of underwriters Peters & Co. Ltd., Dundee Securities Ltd., Desjardins Securities Inc., National Bank Financial Inc., Paradigm Capital Inc., ...