Red Rock Capital Confirms Implementation of Share Split
RED ROCK CAPITAL CORP.
Suite 2200, 885 West Georgia Street Vancouver, British Columbia V6C 3E8
NEWS RELEASE
RED ROCK CAPITAL CONFIRMS IMPLEMENTATION OF SHARE SPLIT
November 30th, 2017 – Vancouver, British Columbia – Red Rock Capital Corp. (the “Company”) announces that further to its news release of November 16th, effective at the open of markets on December 5th, its common shares will commence trading on a forward split basis. The Company will issue 2.33 common shares for every 1 common share held by shareholders of record as of the close of business on December 4th. Shareholders of record as of that date can expect to receive an additional share certificate as a result of the split. Following completion of the split, the Company will have 24,931,000 common shares outstanding.
As previously announced, and following completion of the share split, the Company intends to undertake a private placement of common shares at a post-share split price of $0.11 per share. Due to market interest and to ensure that the Company has sufficient working capital to continue its due diligence investigation of prospective “qualifying transactions”, the board of directors has approved an increase in the size of the placement. The Company now anticipates issuing up to 6,818,181 common shares for gross proceeds of up to $750,000. Completion of the placement remains subject to the approval of the TSX Venture Exchange.
For further information, contact Richard Grayston at [email protected].
On behalf of the Board,
Red Rock Capital Corp.
Richard Grayston, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activity, regulatory or government requirements or approvals, the reliability of third party information and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.