RRI:CA closed a $1,450,000 private placement with Cliffs Natural Resources Exploration Inc NYSE:CLF, which bought 2,416,667 common shares of Riverside at $0.60 per share Riverside President/CEO John-Mark Staude commented, “This investment by Cliffs into Riverside solidifies the partnership between the two companies and further aligns their interests which are focused on continually adding shareholder value. Cliffs now joins Kinross as the second major mining company to own a significant percentage of the company.”
Riverside, which specializes in gold exploration in Mexico and the United States, has an approximate market cap of $15M and approximately $3.4 million in cash.
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