Royal Standard ups placement to $2.2 million

Sparks-based Royal Standard Minerals said last week it increased the size of a previously announced private placement to $2.2 million from $1.5 million.

The financing will consist of up to 6.3 million units at 35 cents each.

Each unit includes a share of the company's stock and half a warrant to buy a share of the company's stock at 50 cents during the next 24 months.

The stock was trading at 32 cents last week.

The company will use the money to complete construction of 2,200 feet of decline and the collection of a 5,000- ton bulk sample on the Company's Gold Wedge project in Nye County.