Rugby Resources Ltd. Boosts Growth with $2,500,000 Non-brokered Private Placement

Rugby Resources Ltd. (TSX-V: RUG) has announced a significant non-brokered private placement, raising CAD$2,500,000 through the issuance of up to 100,000,000 units at a price of $0.025 per unit. Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at an exercise price of $0.05 for a period of 36 months following the closing of the offering. The proceeds will be used for working capital, to advance the company's exploration properties, and to settle outstanding liabilities.



The company's management has indicated that the funds raised will be used to support the company's exploration activities, including drilling and geophysics programs, as well as to maintain its working capital and settle outstanding liabilities. This strategic allocation of funds aligns with Rugby Resources' long-term financial strategy and growth plans, as it enables the company to continue advancing its exploration projects and maintaining its financial health.

Rugby Resources' exploration projects span Argentina, Australia, Chile, and Colombia, with a focus on high-grade gold-silver discoveries near existing mines in the Santa Cruz Province of Argentina. The company's directors and management team have a proven track record of world-class mineral discoveries, which increases investor confidence in the company's potential for success.



The demand for this private placement reflects the current state of the mining sector, with investors seeking opportunities in exploration and development projects with significant mineral resource potential. The regulatory environment, market conditions, and the company's commitment to adhering to regulations and engaging with local authorities and stakeholders also contribute to the appeal of this offering.

In conclusion, Rugby Resources Ltd.'s $2,500,000 non-brokered private placement aligns with the company's long-term financial strategy and growth plans, enabling it to advance its exploration projects, maintain its working capital, and settle outstanding liabilities. The demand for this offering reflects the current state of the mining sector, with investors seeking opportunities in exploration and development projects with significant mineral resource potential. By raising funds through this private placement, Rugby Resources is demonstrating its commitment to its long-term financial strategy and growth plans, which involve advancing its exploration projects, maintaining a strong financial position, and settling outstanding liabilities. This aligns with the company's overall goal of creating value for its shareholders.