Royal Standard Minerals, a Sparksbased mining company, said last week it completed a private placement that raised $268,750.
Each unit of the private placement consists of a share of the company's common stock and half a warrant to purchase the company's common at 30 cents (Canadian) during the next 12 months.
The stock was trading on the Toronto Venture Exchange and the over-the-counter bulletin board at 26 cents (U.S.) last week.
That's about 34 cents Canadian.
Royal Standard said it will use proceeds of the offering for general corporate purposes.
In another announcement, the company said it plans to begin a surface drilling program on its Gold Wedge property in Nye County.
Royal Standard Minerals Inc.
holds a 100 percent interest in the property in the Manhattan Mining District.
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