ROYAL GOLD COMPLETES A PRIVATE PLACEMENT
ROYAL GOLD COMPLETES A PRIVATE PLACEMENT DENVER, Colo., July 28 /PRNewswire/ -- Royal Gold Inc.
(NASDAQ: RGLD) today announced the completion of a private placement of 350,000 units for $350,000. Each unit consists of one share of Royal common stock and a warrant to purchase one share of Royal common stock at a price of $1.50 per share. Purchasers of the private placement included officers and directors of Royal Gold.
Stanley Dempsey, chairman of Royal Gold, stated, "approximately $250,000 of the proceeds of the offering will be used to capitalize and fund the initial operations of two Mexican corporations and up to $100,000 of proceeds will be used for general corporate purposes. Royal Gold Inc. is a Denver-based, publicly held corporation. Royal Gold is engaged in the production of gold and other precious metals primarily through joint ownerships, and the acquisition, exploration, development and sale of gold properties. Royal has one gold project in California being explored by Battle Mountain, one in Nevada being explored by Newmont, and one in Arizona where efforts to farm-out or sell continue. Royal Gold is also pursuing litigation against Placer Dome U.S. Inc. in a dispute over the sale by a Royal affiliate of a certain Nevada mining property in 1991. The case is in federal court in Denver. Royal is traded on NASDAQ under the symbol RGLD. -0- 7/28/92 /CONTACT: Stanley Dempsey of Royal Gold, 303-573-1660/ (RGLD) CO: Royal Gold ST: Colorado IN: MNG SU:
RM -- DV005 -- 4026 07/28/92 11:06 EDT
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|Date:||Jul 28, 1992|
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