Rainy Mountain Royalty closes over-subscribed rights offering

March 1, 2017

On March 1, 2017, Rainy Mountain Royalty Corp. (TSXV: RMO) ( “RMO”) closed its previously announced rights offering, having distributed 13,547,056 units of the company at a price of $0.10 per unit for gross proceeds of $1,354,705. The rights offering was over-subscribed.

Mackie Research Capital Corporation (“MRCC”) acted as soliciting dealer with respect to the offering, using commercially reasonable efforts to assist RMO in soliciting the exercise of rights and agreeing to a standby commitment with RMO that it would purchase up to but not exceeding $500,000 worth of units.

At closing, RMO issued an option entitling MRCC to acquire 2,041,680 common shares of RMO at an exercise price of $0.135 per common share for a period of 24 months following the closing date.

Miller Thomson advised MRCC with respect to this offering with a team that included Rory Godinho, Greg Smith, Peter McArthur and Erika Lai.