RockBridge Resources Inc., Calgary, (Toronto Venture: RBE) is undertaking a non-brokered private placement of convertible debentures offered in units of $50,000.
Each convertible debentures unit will have a term of two years, pay an interest of 7% semiannually and be convertible into 312,500 common shares of the company. The unit holder will also receive 156,250 warrants exercisable to purchase one regular common share at $0.25 for one year. The maximum size of the offering is $350,000 and the closing date is to be determined by the company.
Additionally, RockBridge has modified a non-brokered private placement of common shares announced on March 17. The offering will be increased to 4 million units at $0.14 per unit.
Proceeds of the private placement will be utilized to fund RockBridge's completion, equipping, and land acquisition operations at its Pembina Cardium Oil properties.
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