Rye Patch closes C$49.1m financing to fund Florida Canyon mine buy

TSX-V-listed Rye Patch Gold has closed a C$49.1-million financing through a syndicate of agents which exercised their overallotment option. The Vancouver-based development company said it would use the net proceeds to fund the $15-million cash portion of its commitment to buy the the Florida Canyon gold mine, including the Standard gold mine, in Pershing County, Nevada. The company would also issue 20-million shares to the vendor.