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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Rupert Resources Ltd.    RUP   CA78165J1057

RUPERT RESOURCES LTD.

(RUP)
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Rupert Resources : Closing of $13.1m strategic investment from Agnico Eagle Mines Limited

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02/11/2020 | 03:23pm EDT

Rupert Resources Ltd. ('Rupert' or 'the Company') announces the closing of the non-brokered private placement with Agnico Eagle Mines Limited ('Agnico'), which was previously announced by the Company on February 10, 2020. As a result, Agnico now holds 9.9% of the issued and outstanding common shares of Rupert ('Common Shares') on a non-diluted basis, and warrants to acquire an additional 11,543,704 Common Shares, representing an aggregate of 16.1% of the issued and outstanding Common Shares on a partially-diluted basis.

Agnico has acquired 15,391,605 units of the Company (the 'Units') at a subscription price of C$0.85 per Unit, for gross proceeds to Rupert of C$13,082,864. Each Unit is comprised of (i) one Common Share; and (ii) 0.75 of a non-transferrable, common share purchase warrant, which will entitle Agnico to purchase, for a period of three years from the date of issue, one Common Share for each whole warrant at an exercise price of C$1.00 per Common Share. The warrants provide that, beginning two years from the date of issue, if the price of the Common Shares on the TSX Venture Exchange exceeds C$1.25 per Common Share for at least 20 consecutive trading days, Rupert shall have the right to accelerate, by notice to Agnico, the expiry date of the warrants to 30 calendar days after the date of such notice (such that Agnico may either exercise all or a portion of the warrants in such 30 day period, or failing such exercise, any unexercised warrants would expire). Concurrently with the strategic investment, Agnico and Rupert have entered into an investor rights agreement.

The proceeds will be used to further advance exploration of Rupert's 100% owned Pahtavaara Project in Northern Finland. In accordance with applicable securities laws, the securities issued to Agnico are subject to a four month hold period, expiring on June 12, 2020.

For pdf of release, follow link below

200211_AEMclosingrelease

Disclaimer

Rupert Resources Ltd. published this content on 11 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2020 20:22:05 UTC

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Financials
Sales 2021 - - -
Net income 2021 - - -
Net cash 2021 6,70 M 4,94 M 4,94 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 540 M 398 M 398 M
EV / Sales 2020
EV / Sales 2021 -
Nbr of Employees -
Free-Float 73,5%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 3,03 CAD
Last Close Price 3,58 CAD
Spread / Highest target -3,63%
Spread / Average Target -15,5%
Spread / Lowest Target -27,4%
Managers
NameTitle
James Carr Withall Chief Executive Officer & Executive Director
Gunnar Nilsson Non-Executive Chairman
Jeffrey L. Karoly Chief Financial Officer
Michael Sutton Independent Non-Executive Director
Susan Milton Independent Non-Executive Director
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