Regulus closes C$11.5 million financing

On December 27, 2019, Regulus Resources Inc. ("Regulus") announced that it closed its previously announced bought deal financing, including the exercise in full of the underwriter's option. A total of 7,783,875 units, each comprising one common share and one half of one common share purchase warrant, were sold at a price of C$1.06 per unit, for aggregate gross proceeds of approximately C$8.25 million.
BMO Capital Markets acted as the sole underwriter for the offering.

Concurrent with the public offering, 3,066,375 units were sold pursuant to a non-brokered private placement to certain funds managed by Route One Investment Co. LP, Regulus' largest shareholder, at the offering price, for additional aggregate gross proceeds of approximately C$3.25 million. Together with the public offering, Regulus raised total gross proceeds of approximately C$11.5 million.

The net proceeds of the financing will be used to fund exploration and development activities at the company's AntaKori project—a copper-gold-silver project in northern Peru—as well as for working capital and general corporate purposes.

Further information can be found on Globe Newswire's website.

Regulus is an international mineral exploration company run by an experienced technical and management team.