Listed: CNSX Shares Issued: 16,425,000
Symbol: RTM Stock Options: NIL
Warrants: 6,525,000 wt. avg. $0.06 Restricted Shares: 8,260,000
VANCOUVER, Oct. 6 /CNW/ - RT Minerals Corp. (the "Company") announces up to a 300 unit private placement at $1,000 per unit (the "Units"). Each Unit is comprised of a total of five thousand (5,000) shares consisting of four thousand (4,000) Flow Through ("FT") shares at $0.20 per share and one thousand (1,000) Non-FT shares at $0.20 per share and two thousand five hundred warrants. One warrant entitles the holder to acquire one further Non-FT common share of the Company at $0.25 per share for a one year term.
Insiders are subscribing for at least 10% of the Units. All securities to be issued in connection with the private placement are subject to a 4 month hold period.
A finder's fee is payable on Units not subscribed for by insiders of the Company. Up to $240,000 of the placement will be expended primarily on line cutting, geophysics and drilling on the Company's Golden Property which is contiguous to the south western boundary of Timmins West Mining Inc. - Lakeshore Gold Corps' holdings in the west Timmins area of Ontario. The balance of the proceeds from the placement of up to $60,000 will be for general and administrative expenses.
SOURCE RT MINERALS CORP.
For further information: For further information: Jonathan Samuda, Director, Telephone: (604) 681-3170, Email: email@example.com, RT Minerals Corp., PO Box 10103, LCD Pacific Centre, 515-701 West Georgia Street, Vancouver, B.C., V7Y 1C6, Website: www.rtmcorp.com