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Rye Patch Gold Corp.

Publié le 02 juin 2016

Rye Patch Announces Cdn$40 Million Private Placement of Subscription Receipts to fund Florida Canyon Gold Mine Acquisition

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Rye Patch Announces Cdn$40 Million Private Placement of Subscription Receipts to fund Florida Canyon Gold Mine Acquisition

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, June 2, 2016 - Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the 'Company' or 'Rye Patch') is pleased to announce that, further to the previously announced engagement of Macquarie Capital Markets Canada Ltd. and Canaccord Genuity Corp. (the 'Lead Agents') with respect to a proposed equity financing, a syndicate of agents (the 'Agents'), co-led by the Lead Agents, and including Dundee Securities Ltd. and GMP Securities L.P., will act as agents in connection with a best efforts brokered private placement of 182,000,000 subscription receipts of the Company (the 'Subscription Receipts') at a price of Cdn$0.22 per Subscription Receipt for gross proceeds of Cdn$40,040,000 (the 'Offering').

The Company has also granted the Agents an option (the 'Agents' Option'), exercisable in whole or in part at any time prior to the closing of the Offering, to sell as agent an additional 45,500,000 Subscription Receipts at Cdn$0.22 per Subscription Receipt for total additional aggregate gross proceeds of up to Cdn$10,010,000 on the same terms and conditions as the Offering. Potential aggregate gross proceeds from the sale of Subscription Receipts under the Offering and the Agents' Option (collectively, the 'Offering') would be Cdn$50,050,000.

The net proceeds from the Offering will be used to finance, in part, the purchase price under the Company's agreement (the 'Acquisition Agreement') to acquire 100% ownership of the Florida Canyon gold mine (with the Standard gold mine) located in Pershing County, Nevada and related assets (the 'Acquisition') announced in its news release of May 25, 2016, as well as certain working capital and corporate requirements needed to redevelop and expand the Florida Canyon gold mine. Closing of the Acquisition is anticipated to occur on or before July 31, 2016, subject to regulatory approvals and satisfying conditions of closing under the Acquisition Agreement. Conditions in the Company's favour include completion of a credit facility for not less than US$25 million (the Company has a previously announced commitment letter for a US$27 million credit facility from Macquarie Bank Limited (the 'Credit Facility')) and completion of an equity financing of not less than US$30 million (which completion of the Offering will satisfy).

Each Subscription Receipt will entitle the holder to receive one common share of Rye Patch (a 'Common Share'), without additional payment or further action on the part of the holder, when all conditions precedent to the completion of the Acquisition, the Credit Facility, and the Offering are satisfied or waived by the applicable parties. The gross proceeds from the Offering will be held in escrow pending satisfaction or waiver of these conditions precedent. If the conversion of the Subscription Receipts does not occur before 5 p.m. (Vancouver time) on August 31, 2016 (except as extended with the consent of the Lead Agents) or if the Acquisition Agreement is terminated at any earlier time, the holders of the Subscription Receipts will be entitled to a return of their full subscription price and their pro rata entitlement to the interest earned on the escrowed funds.

The Subscription Receipts will be offered on a private placement basis in all provinces of Canada and elsewhere pursuant to available prospectus exemptions under applicable securities laws. The Subscription Receipts and the underlying Common Shares will be subject to a customary four‑month hold period under Canadian securities laws.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

In connection with the Offering, the Agents will be entitled to receive a 5% commission on the gross proceeds of the sale of the Subscription Receipts payable upon the closing of the Acquisition (other than certain amounts payable on retail selling concessions and selling dealer group member sales to be paid on closing of the Offering). In addition, upon closing of the Acquisition, the Company has agreed to issue the Agents broker warrants entitling them to acquire that number of Subscription Receipts equal to 5% of the Subscription Receipts sold pursuant to the Offering on the same terms and conditions as the Subscription Receipts at an exercise price of Cdn$0.22 per Subscription Receipt for 24 months following closing of the Acquisition.

The Offering and related transactions are subject to the approval of the TSX Venture Exchange.

This news release contains forward-looking statements relating to the timing and completion of the Offering, the Acquisition Agreement, the Credit Facility and future plans and objectives of the Company, future events and conditions and other statements that are not historical facts, all of which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include the failure of the Company to satisfy the conditions of the Offering or in the Acquisition Agreement or the Credit Facility and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. As a result, the Company cannot guarantee that the Offering, the Acquisition Agreement and the Credit Facility and related transactions will be completed on the terms and within the time disclosed herein or at all.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Lire la suite de l'article sur www.publicnow.com

Rye Patch Gold Corp.

EXPLORATEUR
CODE : RPM.V
ISIN : CA7837271005
CUSIP : 783727 10 0
Suivi et investissement
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Rye Patch Gold est une société d’exploration minière d'or basée au Canada.

Rye Patch Gold détient divers projets d'exploration en USA.

Ses principaux projets en exploration sont LINCOLN HILL, JESSUP, WILCO, GARDEN GATE PASS et GOLD RIDGE NEVADA en USA.

Rye Patch Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 410,5 millions CA$ (318,7 millions US$, 273,4 millions €).

La valeur de son action a atteint son plus bas niveau récent le 20 février 2009 à 0,10 CA$, et son plus haut niveau récent le 19 janvier 2018 à 1,66 CA$.

Rye Patch Gold possède 387 300 000 actions en circulation.

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Financements de Rye Patch Gold Corp.
24/12/2009Closes First Tranche Of Private Placement
15/12/2009Announces Private Placement
15/12/2008Announces Private Placement
16/05/2008Rye Patch Announces Follow-Up Private Placement
16/05/2008Rye Patch Closes $1.25 Million Private Placement
Attributions d'options de Rye Patch Gold Corp.
11/06/2008Grants Stock Options
Nominations de Rye Patch Gold Corp.
22/10/2007Hires Manager Of Investor Relations
Projets de Rye Patch Gold Corp.
14/02/2014Discusses Exploration Programs And Budget For 2014
31/12/2013Coeur Rochester Mine Royalty Starts At Midnight
06/08/2013Quantifies 3.4% NSR Coeur Rochester Mine Royalty
09/05/2013(Lincoln Hill)Reports Lincoln Hill Exploration Update
08/05/2013Reports LH Claims Exploration Results
21/02/2013Expands Mystic And South Packard Pediment Silver-Gold Zones ...
01/10/2012Rye Patch Updates Gold Exploration Along the Cortez Trend
17/09/2012Rye Patch Announces Updated Gold and Silver Resources Within...
17/09/2012Rye Patch Announces Updated Gold and Silver Resources Within...
17/09/2012(Lincoln Hill)Announces Updated Gold and Silver Resources Within an Open P...
10/07/2012Rye Patch Intersects More Gold and Silver on the LH Claims
29/06/2012Rye Patch Leases Additional Land on the Rochester Project
27/06/2012Rye Patch Announces 1=2E28 Million ozs ofGold in the Measure...
30/05/2012(Garden Gate Pass)Starts Drilling at Garden Gate Pass
22/02/2012s Exploration Progress on Rochester Project
21/02/2012(Garden Gate Pass)Garden Gate Pass Project on Major Discovery Trend
01/02/2012(Gold Ridge Nevada)Reports Gold And Silver Assays From Gold Ridge
24/01/2012Stakes More Claims And Starts Drilling At Rochester
09/01/2012Makes New Gold and Silver Discoveries on the Rochester Prope...
06/01/2012(Garden Gate Pass)Bill Howald interviewed by Smallcappower.com regarding the r...
08/12/2011(Lincoln Hill)Announces Results of 2011 Lincoln Hill Drill Program
05/12/2011Expands Oreana Trend Holdings Stakes Mining Claims On Existi...
03/10/2011(Lincoln Hill)Finds New High-Grade Gold And Silver Zones At Lincoln Hill
13/09/2011(Garden Gate Pass)is Drilling at Garden Gate Pass Project
09/08/2011(Garden Gate Pass)is Ready to Drill Garden Gate Pass Project
27/07/2011(Wilco)Reports Metallurgical Results From Wilco
02/06/2011(Wilco)Drills Thick Gold Zone at Wilco
25/05/2011(Lincoln Hill)Starts Drilling on Jefferson Zone at Lincoln Hill
16/05/2011Resource Clips: Rye Patch Works Toward Eight Million Nevada ...
09/05/2011(Wilco)Extends North Basin High-Grade Zone At Wilco
20/04/2011(Jessup)Adds Jessup to 2011 Program and Budget
03/03/2011(Wilco)Drills More High-Grade Gold at Wilco
17/02/2011(Wilco)Announces 2011 Programs and Budgets for Nevada Portfolio
17/02/2011(Jessup)Announces 2011 Programs and Budgets for Nevada Portfolio
17/02/2011(Gold Ridge Nevada)Announces 2011 Programs and Budgets for Nevada Portfolio
08/02/2011(Lincoln Hill)Drills Thick Zones of Gold and Silver at Gold Ridge
25/01/2011(Wilco)Continues Drilling Success at Wilco
12/01/2011(Lincoln Hill)Drills New Gold and Silver Zone on Lincoln Hill
11/08/2010(Lincoln Hill)Identifies New Gold Target Along The Oreana Trend
30/06/2010(Lincoln Hill)Files Technical Report on Lincoln Hill Resource
07/06/2010(Wilco)Drills 44.5 G/T Au and 36.3 G/T Ag over 1.5 Metres at Wilco
10/12/2009(Lincoln Hill)Drills 21.19 g/t Gold Over 7.0 Metres At Lincoln Hill
13/11/2009(Lincoln Hill)Drills 15.2 G/T Gold And 308 G/T Silver Over 3 Metres At Lin...
11/06/2009(Lincoln Hill)Plans Program for High-Grade Gold at Lincoln Hill Project
02/06/2009(Jessup)Jessup Gold and Silver Resource Estimate
25/11/2008(Wilco)Drills 38.1 Metres Grading 2.61 G/T Au In New Target At Wilc...
12/11/2008(Jessup)Drills 7.6 Metres Grading 9.19 G/T Au At Jessup
17/06/2008(Wilco)Begins 2008 Drilling on Wilco Project to Expand Known Gold R...
12/05/2008(Wilco)Outlines Oxide Characteristics Of Wilco Resource
27/03/2008(Jessup)Extends Gold Mineralization At The Jessup Resource Project
12/03/2008(Lincoln Hill)Discusses Progress At The Lincoln Hill/Gold Ridge Project
09/01/2008(Wilco)Drills 176 Feet Of 0.030 Opt Gold At Wilco Discovery
Communiqués de Presse de Rye Patch Gold Corp.
29/07/2016Rye Patch Announces Acquisition of the Florida Canyon Gold M...
09/07/2016Rye Patch Announces Filing of NI 43-101 Technical Report on ...
16/06/2016Rye Patch Announces Completion of Cdn$49.1 Million Private P...
02/06/2016Rye Patch Announces Cdn$40 Million Private Placement of Subs...
25/05/2016Rye Patch Signs Agreement to Acquire Florida Canyon Gold Min...
14/01/2016Rye Patch Stakes claims along Gold Ridge-Florida Canyon tren...
18/12/2015Rye Patch Amends Patty Agreement with Barrick and Provides U...
15/12/2015Caesars Report's Thibaut Lepouttre Interviewed by The Gold R...
29/10/2015Rye Patch receives $1,462,300 quarterly royalty payment
28/10/2015Rye Patch Begins Drilling Within the Lincoln Hill Resource C...
19/10/2015U.S. Global Investors' Frank Holmes and Ralph Aldis Intervie...
15/09/2015Rye Patch Completes Metallurgical Drill Program at Lincoln H...
28/08/2015Rye Patch Gold Grants Stock Options
11/08/2015Rye Patch Arbitrates Q1 2014 Royalty Payment with Coeur
16/07/2015Rye Patch receives $1,490,000 quarterly royalty payment
09/07/2015Rye Patch Purchased and Cancelled 923,500 Common Shares in Q...
16/04/2015Rye Patch Receives $1,850,000 Quarterly Royalty Payment
09/04/2015Rye Patch Completes Land Purchase at Lincoln Hill
09/04/2015Rye Patch Hires Lincoln Hill Project Team
07/04/2015Rye Patch Completes Land Purchase at Lincoln Hill
02/04/2015Rye Patch Adds to Oreana Land Position
18/03/2015Rye Patch Drilling Targets World Class Cortez Gold Trend
03/03/2015Rye Patch Gold Buys Strategic Private Surface and Mineral Es...
02/03/2015Rye Patch Gold Appoints Tony Wood as Chief Financial Officer
10/02/2015Rye Patch Gold 2015 - Funded and Active
25/11/2014Rye Patch Updates Investors On Receipt Of Cash From Royalty
24/11/2014Rye Patch Drills High-Grade Structural Zones At Lincoln Hill
15/10/2014Rye Patch Drills High-Grade Gold At Wilco
06/10/2014Rye Patch Clarifies MD&A and Technical Disclosure
17/09/2014Rye Patch Appoints Buffington to Board of Directors
15/09/2014Rye Patch Drills 1.24 g/t AuEq Over 19.8m at Its Gold Ridge ...
08/09/2014Rye Patch Appoints VP Corporate Development
21/08/2014Rye Patch Gold Announces Stock Options Extensions
23/07/2014Rye Patch Gold Grants Stock Options
03/07/2014Rye Patch Announces Filing of Technical Report for Lincoln H...
28/05/2014Rye Patch Reports Drilling Starts at Lincoln Hill
21/05/2014Rye Patch Announces Lincoln Hill Preliminary Economic Assess...
09/05/2014Rye Patch Gold Appoints New Chairman
11/12/2013(Lincoln Hill)Receives Positive Metallurgical Results From Lincoln Hill
12/07/2013Grants Stock Options
25/06/2013And Coeur Reach Settlement On LH Claim Legal Dispute
03/06/2013Reports Expansion Of Goldridge Gold/Silver Zone
06/11/2012Rye Patch Updates Rochester Project Resources Based on Coeur...
06/11/2012s Rochester Project Resources Based on Coeur d'Alene's Recen...
26/10/2012Receives New Trial Date From Sixth District Court
16/10/2012Rye Patch Receives Court Order Granting Coeur's Motion to Po...
16/10/2012Receives Court Order Granting Coeur's Motion to Postpone
01/10/2012s Gold Exploration Along the Cortez Trend
16/08/2012Rye Patch Gold Announces Amended Non-Brokered Private Placem...
15/08/2012Rye Patch Updates Status of Lawsuit Against Coeur Rochester,...
06/08/2012Rye Patch Stakes More Mineral Claims at Rochester and Packar...
30/05/2012Mid-Day Breaking News From Gold Canyon and Rye Patch
29/05/2012Drills Significant Gold And Silver Zones On The LH Claims
12/03/2012Files Motion for Restraining Order Against Coeur d'Alene Min...
15/02/2012Rye Patch Gold Achieves #6 Ranking on the 2012 TSX Venture 5...
16/01/2012Added To S&P/Tsx-V Index
10/01/2012Bill Howald discusses the latest Rochester Press Release wit...
05/01/2012Cuts Lower Plate Carbonates, Carlin-Style Alteration, and El...
21/12/2011Granted Access To The LH Claims
17/12/2011s Court Proceedings
08/09/2011Barrick's New Multi-Million Ounce Discovery at Cortez (Nevad...
25/08/2011Jay Taylor writes up Rye Patch Gold Corp.
17/02/2011Announces 2011 Programs and Budgets for Nevada Portfolio
28/07/2010Leases Wilco Geothermal Rights
23/06/2010Ubika Research Initiates Coverage on Rye Patch Gold Corp.
26/02/2010has been added to GoldMinerPulse.com
10/02/2010Executes Definitive Agreement with Centerra Gold (U.S.) Inc....
21/10/2009Coverage in the Gold Newsletter
28/11/2008Announces Release Of Previously Escrowed Securities
04/11/2008TSX Venture Exchange Advances Rye Patch Gold To Tier 1 Statu...
24/09/2008Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
17/09/2008Drills 45.7 Metres Grading 1.34 G/T Au At Wilco
19/08/2008Reports Lincoln Hill - Gold Ridge Drilling Complete
29/07/2008Reports On The Wilco Drill Program
10/07/2008Begins Drilling On Lincoln Hill And Gold Ridge
29/05/2008Confirms Ridge Gold/Silver Anomaly On Lincoln Hill
28/05/2008to be featured on CEO Clips airing on BNN
30/04/2008Increases Wilco Gold Resource
03/04/2008 Retains Renmark Financial Communications
28/02/2008Releases Project Programs And Budgets For 2008
06/02/2008Options Cortez Trend Gold Play From Barrick
19/11/2007Acquires Rights to Lincoln Hill Property, Nevada and Consoli...
17/10/2007Expands Section Line Discovery on Wilco Project
03/10/2007Completes Acquisition Of The Jessup Project, Nevada From Mid...
25/09/2007Drills 21 Metres of 2.74 g/t Gold New Gold Zone on Wilco Pro...
06/09/2007Doubles Wilco Gold Resource
21/08/2007Acquiring The Jessup Project, Nevada From Midway Gold Corp.
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TSX-V (RPM.V)
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