TORONTO, Jan. 12, 2018 /CNW/ - RNC Minerals (TSX:
RNX) today announced that it has completed the equity issuances
described in its news release dated December
14, 2017, by issuing 29,750,312 common shares to Auramet
International LLC at a price of $0.16
per share and 7,704,167 common shares to other stakeholders at a
price of $0.16 per share. RNC has
also signed subscription agreements for an additional ten million
shares to be issued for cash at $0.16
per share on or before January 17,
2018 as part of the previously announced restructuring.
These financing transactions will support the completion of the
ramp-up and development of the Beta Hunt Mine, including the
planned doubling of nickel production in 2018. See RNC News Release
dated December 14, 2017 for
additional information.
About RNC Minerals
RNC is a multi-asset mineral
resource company with a portfolio of gold and base metal production
and exploration properties. RNC's principal assets are the
producing Beta Hunt gold and nickel mine in Western Australia, a 50% interest in a nickel
joint venture with Waterton that holds the Dumont Nickel Project in
the Abitibi region of Quebec, and
a 30% stake in the producing Reed Mine in the Flin Flon-Snow
Lake region of Manitoba,
Canada. Through its stake in Orford Mining Corporation
(TSX-V: ORM), RNC also has interests in the West Raglan and Qiqavik
projects in Northern Quebec and
properties in the U.S. Carolina Gold
Belt. RNC has a strong management team and Board with over
100 years of mining experience at Inco and Falconbridge. RNC's common shares trade on the
TSX under the symbol RNX. RNC shares also trade on the OTCQX market
under the symbol RNKLF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information,"
including without limitation statements relating to the completion
of the financing, the liquidity and capital resources of
RNC, production guidance and the potential of the Beta Hunt and
Reed mines as well as the potential of the Dumont development
project and Qiqavik, West Raglan, Jones-Keystone Loflin and
Landrum-Faulkner exploration properties.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of RNC to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: failure of the parties to
sign definitive agreements and satisfy conditions of closing;
future prices and the supply of metals; the results of drilling;
inability to raise the money necessary to incur the expenditures
required to retain and advance the properties; environmental
liabilities (known and unknown); general business, economic,
competitive, political and social uncertainties; accidents, labour
disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash costs, failure to obtain
regulatory or shareholder approvals. For a more detailed discussion
of such risks and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements, refer to RNC's filings with Canadian
securities regulators available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news
release and RNC disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
SOURCE RNC Minerals