RUA GOLD Closes C$5.75 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

Core Viewpoint - Rua Gold Inc. has successfully closed a brokered public offering, raising C$5.75 million through the issuance of 9,583,410 common shares at a price of C$0.60 per share, including the full exercise of the over-allotment option [1][2][3] Group 1: Offering Details - The offering generated aggregate gross proceeds of C$5,750,046 and was fully subscribed [1] - The net proceeds will be utilized for the exploration program on the Reefton Project and for general corporate purposes [2] - The offering was completed under an agency agreement with Cormark Securities Inc. as the sole agent [3] Group 2: Financial Arrangements - The Company paid a cash fee of C$269,999 to the agent and issued 575,004 broker warrants, each exercisable at C$0.60 for 24 months [4] - Insiders subscribed for a total of 1,890,109 common shares, which is considered a related party transaction [6][7] Group 3: Company Background - Rua Gold is focused on exploration in New Zealand, controlling over 120,000 hectares in the Reefton Gold District, which has historically produced over 2 million ounces of gold [9][10] - The Glamorgan Project further establishes Rua Gold's position as a leading high-grade gold explorer in New Zealand, adjacent to significant mining operations [11]