Royal Standard Minerals Inc.
of Sparks said it hired Octagon Capital Corp.
to raise up to $1.5 million (Canadian) in a private placement.
The private placement would involve issuance of 6 million units priced at 25 cents each.
Each unit would be one common share and a warrant to purchase a half share of the common stock at 30 cents a share for the next 24 months.
Royal Standard said it would use the money for its exploration and pre-development projects in Nevada.
