- Rafaella Resources (RFR) has been granted back-to-back trading halts regarding a capital raise and potential acquisition
- The company will remain in the halts until August 21 or when the announcement is made, whichever occurs first
- Rafaella also announced today it has entered a conditional tenement sale agreement with Meteoric Resources to acquire 100 per cent of Meteoric’s Canadian projects
- On completion of the sale agreement, Rafaella will issue more than 13 million shares to Meteoric at 6.6 cents each, valuing the projects at $860,000
- However, this agreement is subject to various conditions, such as Rafaella completing due diligence and receiving shareholder approval
- Shares in Rafaella last traded for 6.6 cents each on August 14
Rafaella Resources (RFR) has been granted back-to-back trading halts regarding a capital raise and potential acquisition.
The company will remain in the halts until August 21 or when the announcement is made, whichever occurs first.
Rafaella also announced today it has entered a conditional tenement sale agreement with Meteoric Resources to acquire 100 per cent of Meteoric’s Midrim and LaForce projects in Canada.
On completion of the sale agreement, Rafaella will issue 13,050,000 shares to Meteoric at 6.6 cents each, valuing the projects at $860,000.
Additionally, Rafaella will issue 1.45 million shares and five million options to the shareholders of Canadian Nickel Corporation.
The options will have an exercise price of 20 cents and will expire two years from the date of issue.
However, this agreement is subject to various conditions, such as Rafaella completing due diligence and receiving shareholder approval.
Shares in Rafaella last traded for 6.6 cents each on August 14.