ResourceCapital Gold Corp. said July 17 that it plans to undertake anonbrokered private placement consisting of up to 25,000,000 common sharespriced at 12 Canadian cents each to raise aggregate gross proceeds of up to C$3million.
In connection with the offering, certain shareholders planto complete a "gypsy swap" whereby they would sell up to 12,500,000company shares in pre-arranged trades, and then purchase up to 12,500,000shares under the offering.
The company intends to use the proceeds to advance theCorcoran Canyonsilver-gold project in Nevada. Funds will be put toward preparing a NI 43-101compliant report on the property and undertake prefeasibility study work.
Resource Capital is also actively assessing both developmentstage and producing precious metals assets, in line with the its goal ofcreating a broad-based precious metals company focused on the Americas.