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Royal Road Minerals raises C$750k through shares issue

Chairman Peter Mullens has put his hand in his pocket as has Polygon Mining Opportunity Fund
Gold coins
Funds from the share issue will go towards paying for the acquisition of Caza Gold

Royal Road Minerals Limited (CVE:RYR) has closed a non-brokered strategic private placement offering.

The gold focused mineral exploration and development company said the offering comprised 7.5mln units purchased by Polygon Mining Opportunity Fund and Royal Road's chairman, Peter Mullens, at C$0.10 a pop.

The share issue raised C$750,000.

READ Royal Road Minerals excited by potential copper-gold body at Los Andes

READ Royal Road acquires 90% of Caza Gold

Each unit consists of one ordinary share of Royal Road and half a warrant to purchase Royal Road shares; a whole warrant entitles the holder to purchase one Royal Road share at C$0.20.

Royal Road shares closed at C$0.095 last night.

Royal Road intends to use the proceeds of the financing for general working capital purposes, and to complete the company's acquisition of Caza Gold Corp, including the repayment of Caza's outstanding debt.

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