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Rathdowney Resources closes first tranche of funding

Last updated: 10:24 22 Aug 2016 EDT, First published: 05:24 22 Aug 2016 EDT

picture of Canadian dollars
First tranche raised C$1.36mln.

Rathdowney Resources Ltd (CVE:RTH) has closed the first tranche of its recent funding to raise C$6mln.

The mining junior has issued 7.19mln units as part of the company's president's list for gross proceeds of C$1.36mln.

Each unit consists of one common share and one warrant.

In total, Rathdowney plans to raise around C$6mln through a brokered private placement of some 31.6mln units at 19c.

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