Royal Standard raises capital

Royal Standard Minerals, a Sparksbased mining company, says it completed a private placement of $1.25 million (Canadian) with Octagon Capital Corp.

The proceeds will used for Royal Standard's Pinon and Railroad gold and silver projects in Elko County.

The placement involves 6 million units priced at 25 cents (Canadian) each.

Each unit represents one share of the company's common stock and a warrant to purchase half a share at price of 30 cents a share (Canadian) within 24 months.