RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF), also known as RTM, has announced a non-brokered private placement aiming to raise $300,000 through the issuance of 10,000,000 shares at $0.03 each. The shares will be subject to a statutory hold period of four months plus one day from the date of issuance.
Use of Proceeds
The company outlines its planned allocation of the raised funds to cover its accounts payable, current liabilities, and future budget costs. These include payments to contractors, service providers, and various operational expenses.
Payment Allocation to Arms Length Contractors
RTM intends to dedicate funds to multiple operational aspects, with significant portions allotted to various accounts payable and accrued liabilities, claim payments, auditors’ fees for financial statements, and more.
Allocations to Non-Arms Length Parties
Some funds will be directed towards compensating company directors and senior officers, with the balance reserved for unallocated operating capital.
Company Portfolio Highlights
RTM holds a portfolio of rare earth element, gold, and base metal properties. The primary properties include Nordica, Case Batholith, and Ireland properties, each offering notable prospects for valuable mineralization.
About RT Minerals Corp.
RTM focuses on exploring its desirable mining properties in Ontario, Canada, benefitting from a largely royalty-free interest.
For inquiries, Mr. William Elston, President, CEO, and Director, can be reached at (604) 725-0604.
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