On December 21, 2021, Rhyolite Resources Ltd. closed a bought deal financing led by BMO Capital Markets and concurrent non-brokered private placement for aggregate gross proceeds of approximately $18 million.
Pursuant to the bought deal financing, Rhyolite issued 16,000,000 common shares at a price of $0.88 per common share for gross proceeds of approximately $14 million.
Pursuant to the concurrent private placement, Rhyolite issued common shares at a price of $0.88 per common share for approximately $4 million.
Cassels acted for Rhyolite.