Rugby Mining closes non-brokered private placement of units

On October 16, 2015, Rugby Mining Limited (TSXV: RUG) announced that it had closed its previously announced non-brokered private placement, having issued 8,387,500 units for gross proceeds of $671,000. Each unit consists of one common share and one common share purchase warrant.

Proceeds of the offering will be used to fund the company’s exploration expenditures at its projects including at its Cobrasco Project in Colombia, its Jessup Project in Nevada and for corporate and administrative purposes.

We advised Rugby Mining in this transaction with a team that included Cyndi Laval and Catherine Graham.