Resinco Capital Partners Inc., an investment company focused on metal mining and exploration, closed the second and final tranche of a nonbrokered private placement, bringing the total gross proceeds of the offering to about C$2.0 million.
In the second tranche, the company issued 4,890,000 units at a price of 10 Canadian cents per unit for gross proceeds of C$489,000.
Each unit consists of 1 common share and 0.5 common share purchase warrant. One warrant entitles the holder to purchase 1 company share at a price of 15 cents per share until Nov. 17, 2019. The securities are subject to a four-month hold period expiring March 25, 2018.
Resinco paid finder's fees on the tranche of C$34,230 and issued a total of 342,300 finder's options, each exercisable until Nov. 17, 2019, at 10 Canadian cents to buy one unit on the same terms as the private placement unit.
The company also announced that Kyle Stevenson has been appointed the president, CEO and a director of the company. Stevenson is a director on the boards of Millennial Lithium Corp., Liberty One Lithium Corp., Datinvest Corp. and Blueprint Capital.