Rhyolite raises acquisition funds

Rhyolite Resources Ltd. March 27 closed a C$1.6 million financing, which provides the owner of the Paxson gold project in Interior Alaska working capital and funds to potentially acquire new exploration properties.

The financing involved the issuance of 16 million units at C10 cents each.

Each unit consists of one share and half a purchase warrant, with each whole warrant exercisable into an addit...