Successfully raised fresh capital from the market
Eric Sprott and EarthLabs are in on the action. Following its spectacular drilling success at its Rottenstone SW project in Saskatchewan with up to 73.55 grams per tonne gold and 19.50 g/t silver over a 7.5 meter interval from 227 to 234.5 meters depth, Ramp Metals Inc. (TSXV: RAMP; FRA: 6DK) has successfully raised CAD 4,937,125.58 in fresh capital from the market in a private placement. The financing was led by Eric Sprott and EarthLabs. As part of the financing, Ramp Metals issued a total of 4,090,546 charity flow-through common shares at a price of $0.78 per common share and 3,175,454 common shares at a price of $0.55 per common share. No finder’s fees were payable in connection with the financing.
Jordan Black, CEO of Ramp Metals, commented, “We are pleased to now have the funding in place to proceed with our next phase of drilling at the flagship Rottenstone SW property. We would like to thank everyone for their support, including strategic investors Eric Sprott and EarthLabs, both of whom are established and prominent Canadian mining investors.”
The Company plans to use the proceeds from the issuance of CFT shares for exploration expenditures at its Rottenstone SW property in Saskatchewan, Canada. The proceeds from the sale of the common shares will be used for both exploration costs and general working capital.
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