WOW, so that's how its done! Wished I didn't sell at $2.40, guess Brent Cook is thinking same, lol
UPDATE 1-Rainy River to raise C$65 mln to advance gold project
Rainy River Resources Ltd.
RR.V
$13.00
+0.03+0.23%
1:44pm CST
Tue Dec 14, 2010 4:43pm EST
* Says to use majority of proceeds to fund Ontario project
* To offer 5.14 mln shares at C$12.65 each
* Offer at 5 percent discount to Tuesday's close
* Offer to close by Jan. 7
Dec 14 (Reuters) - Precious metals explorer Rainy River Resources Ltd (RR.V) said it will raise C$65 million ($64.74 million) in a bought deal offering, mainly to advance its Rainy River gold project in Northwestern Ontario.
The Canadian company said it will issue about 5.14 million shares at C$12.65 each to underwriters led by Scotia Capital. The price is at a 5 percent discount to Rainy River's Tuesday close.
The offering is expected to close by Jan. 7 next year.
