Rupert Resources (RUP-V) has arranged a $4.65-million brokered special warrant financing.
The financing, led by C.M. Oliver, will consist of up to 1.5 million special warrants at $3.10 each. Each special warrant will convert to one common share and a half non-transferable share-purchase warrant. One whole warrant will entitle the holder to purchase one additional share at $3.50 for a 12-month period.
Rupert will use the funds to advance its evaluation program at the Crown diamond mine project in South Africa.
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