Rio Tinto Venture Nuton Completes Non-brokered Private Placement Financing With Regulus

(RTTNews) - Rio Tinto venture Nuton LLC said that it has completed a non-brokered private placement financing with Regulus Resources for a strategic investment of US$15 million.

As per the Financing, Rio Tinto venture Nuton was issued 20.06 million common shares in the capital of Regulus at an issuance price equal to C$1.02 per Common Share.

Upon completion of the Financing, Rio Tinto venture Nuton acquired beneficial ownership and control over 20.06 million Common Shares representing 16.1% of the issued and outstanding Common Shares on completion on a non-diluted basis.

Regulus and Nuton have reached a collaboration agreement wherein Nuton was granted certain investor rights, including allowing Nuton to maintain its equity interest in Regulus if it maintains said interest above 10%. Additionally, Nuton shall be allowed to nominate a director to the board of directors of Regulus.