Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) reported that the Company issued an option to a corporation at arm’s length to the Company to purchase up to 721,000 units of the Company.
The press release is quoted as saying:
Subject to the approval of the TSX Venture Exchange, the Compensation Option will be returned to the Company for cancellation and the Company will, in substitution for the Compensation Option, issue to the Finder a total of 721,000 common shares (“Common Shares”) of the Company and 360,500 non-transferable common share purchase warrants (“Warrants”) of the Company (collectively, the “Finder’s Securities”). Each Warrant will entitle the Finder to purchase one Common Share at a price of $0.35 for a period of two years from the Private Placement closing date.
