October 20, 2016 / 3:37 PM / 2 years ago

BRIEF-Rubicon Minerals says commitment of George Ogilvie as CEO, proposed restructuring transaction

Oct 20 (Reuters) - Rubicon Minerals Corp :

* Rubicon Minerals announces the commitment of George Ogilvie as President and CEO and a proposed restructuring transaction including a C$40 million equity financing

* Rubicon Minerals Corp - Restructuring transaction will involve a new equity raise of C$40 million and reduction of company’s outstanding obligations

* Rubicon Minerals Corp - Julian kemp will leave his position as Interim President and CEO

* Rubicon Minerals Corp- Company has sufficient resources to continue without disruption while restructuring transaction is being pursued

* Rubicon Minerals Corp - CCAA process is not expected to affect company’s day-to-day business

* Rubicon Minerals Corp - During strategic review process, did not receive any binding offers that would result in a deal superior to restructuring deal

* Rubicon Minerals Corp - Phoenix Gold Project continues to be on care and maintenance, with minimum staff on site Source text for Eikon: Further company coverage:

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