Royal Standard Minerals Inc.
of Sparks said it hired Canaccord Capital Corp.
to raise $4.2 million (Canadian) through an equities offering.
Canaccord will work to sell 7 million units one common share and a warrant to purchase half a common share on behalf of Royal Standard.
The units will be priced at 35 cents each.
The warrants will allow holders to buy Royal Standard common shares at 50 cents each for 24 months after the deal closes.
The stock was trading last week at 32 cents in the over-the-counter bulletin board market.
The mining company said it plans to use proceeds from the offering to finance work on its Gold Wedge mining project in Nye County.
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