01:32 PM EDT, 06/01/2018 (MT Newswires) -- RNC Minerals (RNX.TO) has entered into an agreement with Haywood Securities Inc., as lead agent on behalf of a syndicate of agents, whereby the agents will sell, on a best-efforts private placement basis, a minimum of 40 million units of RNC, at $0.15 apiece for minimum gross proceeds of $6 million. RNC has granted the agents an option to sell up to an additional 15% of the offering in units.

The offering is expected to close by June 14, 2018. The net proceeds of the offering will be used for working capital and general corporate purposes (including reduction of current indebtedness and payables) and to fund the advancement of RNC's nickel-cobalt project.

Price: 0.15, Change: -0.02, Percent Change: -11.76