UPDATE: Rio Verde Minerals Closes C$12.8 M Non-Brokered Private Placement; Shares Up 19% Near Midday

By Midnight Trader,  June 28, 2012, 11:37:48 AM EDT

Rio Verde Minerals Development Corp. (RVD.TO) today announced that it has closed a C$12.8 million non-brokered private placement.

The private placement includes a strategic investment by AGN Agroindustrial, Projetos e Participacoes Ltda, a private Brazilian holding group. The Company plans to use the proceeds from the Private Placement to fund exploration and economic studies at its Sergipe Potash Project, to continue exploration of its portfolio of phosphate prospects, for development of the Fosfatar Phosphate Project and for working capital purposes.

RVD is at 22 cents.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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