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Royal Road Minerals closes C$11.5 million financing for exploration at precious metal projects in Nicaragua and Colombia

In July, Royal Road revealed encouraging drill results from the Luna Roja gold project in Nicaragua

Royal Road Minerals -
The Toronto-based company issued just over 31.2 million shares priced at C$0.37 for total proceeds of $11,552,325

Royal Road Minerals Limited (CVE:RYR) closed a C$11.5 million financing on Tuesday to advance exploration on its projects in Nicaragua and Colombia.

The Toronto-based company issued just over 31.2 million shares priced at C$0.37 for total proceeds of $11,552,325, according to a statement.

The offering was led by Stifel GMP on behalf of a syndicate of underwriters, including Pollitt & Co Inc, Sprott Capital Partners LP, Leede Jones Gable Inc and Red Cloud Securities Inc.

READ: Royal Road Minerals unveils encouraging new drill results from Luna Roja gold project in Nicaragua

In July, Royal Road revealed encouraging drill results from the Luna Roja gold project in Nicaragua, which have provided the firm with more insight into how to extend mineralization there.

Results from the first nine holes included 65 metres at 6.9 grams per ton (g/t) gold, including 41 metres at 10 g/t gold.

The asset lies in the highly prospective Golden Triangle, a region that has produced some eight million ounces of gold since the early 1900's and is part of Royal Road's strategic-alliance with Hemco Mineros Nicaragua.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Royal Road Minerals

Price: 0.35 CAD

TSX-V:RYR
Market: TSX-V
Market Cap: $91.24 m
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Royal Road Minerals says 'it looks like we're drilling a mine' at flagship...

Royal Road Minerals Limited's (CVE:RYR) CEO Tim Coughlin talks to Proactive London's Katie Pilbeam about their latest set of results from its Luna Roja gold project in Nicaragua. Coughlin is confident that there is a potential for a new mineralized zone on the property and is hoping to put...

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