11:34 AM EDT, 05/27/2024 (MT Newswires) -- Rugby Resources ( RBMNF ) on Monday said its board of directors approved a proposed private placement offering of up to 10-million units at $0.05 per unit to raise up to $500,000.

Each unit will consist of a share and a two-year warrant to buy a second share for $0.10.

The company will use the proceeds for exploration and general expenses.

Rugby shares were last seen down $0.005 to 0.045 on the TSX Venture Exchange.

Price: 0.05, Change: -0.01, Percent Change: -10.00