2023_02_28_HRK_NR_IPO
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
HIGHROCK RESOURCES LTD.
615 – 800 West Pender Street
Vancouver, British Columbia
V6C 2V6
Highrock Resources Completes Initial Public Offering and Lists
on the Canadian Securities Exchange
Vancouver, British Columbia, February 28, 2023: Highrock Resources Ltd. (the " Company"
or "Highrock") (CSE: HRK) is pleased to announce that on February 28, 2023, it completed its initial
public offering (the "IPO") of 3,500,000 common shares in its capital (each a “ Share”) at a price of
$0.10 per Share for gross proceeds of $350,000.
The net proceeds from the IP O will be used for working capita l purposes, for general and
administrative purposes, to carry out exploration on the Pathfinder Property located near Grand
Forks, B.C. and to make payments pursuant to t he option agreement in respect of the Pathfinder
Property.
Haywood Securities Inc. acted as agent (the " Agent") for the IPO. The Agent received a cash
commission equal to 10% of the gross proceeds of the IPO and a corporate finance fee, which
included the issuance of 105,000 Shares to the Agent at a deemed price of $0.10 per Share.
Additionally, the Company granted the Agent, and its selling group, non-transferable compensation
options entitling the holder(s) to purchase an aggr egate of 350,000 Shares at a price of $0.10 per
Share, exercisable on or before February 28, 2025.
The Shares are expected to commence trading on the Canadian Securities Exchange on March 1,
2023, under the symbol (“HRK”).
The offered securities have not been and will not be registered under the United States Securities
Act of 1933 , as amended (the " U.S. Securities Act "), or any applicable state securities laws and
may not be offered or sold in the United States or to "U.S. persons", as such term is defined in
Regulation S under the U.S. Securities Act, absent such registration or an applicable exemption from
such registration requirements. This news releas e shall not constitute an offer to sell or the
solicitation of an offer to buy the offered securities in any jurisdiction.
About Highrock Resources Ltd.
Highrock Resources Ltd. is engaged in the business of mineral exploration and the acquisition of
mineral property assets in North America. Its pr incipal property is the Pathfinder Property, a gold
prospect located in the Greenwood Mining Division in southern British Columbia. The 295.56 hectare
property covers a highly mineralized area, also kn own as the historically productive and larger
Republic-Greenwood Gold District.
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For more information, please refer to the Company's prospectus dated December 2, 2022, available
on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
Gary Musil
Chief Executive Officer and Director
For further information, please contact:
Gary Musil
Chief Executive Officer and Director
(604) 787-7356
Forward-Looking Statements:
This news release includes certain forward-looking st atements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements,
other than statements of hist orical fact, included herein including, witho ut limitation, statements regarding the
commencement of trading of the Company’s common s hares on the Canadian Securities Exchange, future
capital expenditures, anticipated content, commencement, and cost of exploration pr ograms in respect of the
Company's projects and mineral properties, anticipated exploration program results from exploration activities,
resources and/or reserves on the Company's projects and mineral properties, and the anticipated business
plans and timing of future activities of the Company, are forward-looking statem ents. Although the Company
believes that such statements are reasonable, it can give no assurance that such expectations will prove to be
correct. Often, but not always, forward looking informati on can be identified by words such as "pro forma",
"plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes", "potential" or variations of such words incl uding negative variat ions thereof, and
phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or
achieved. In making the forward-l ooking statements in this news release, the Company has applied several
material assumptions, including without limitation, that market fundamentals will result in sustained precious and
base metals demand and prices, the receipt of any nec essary permits, licenses and regulatory approvals in
connection with the future exploration of the Company's properties, the availability of financing on suitable terms,
and the Company's ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or ac hievements of the Company to differ materially from any future results,
performance or achievements expressed or implied by the forward-looking statements. Such risks and other
factors include, among others, statements as to the anticipated business plans and timing of future activities of
the Company, including the Company's option to acquire the Pathfinder Project, the proposed expenditures for
exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities
and plans, delays in obtaining governmental and regulato ry approvals (including of the Canadian Securities
Exchange), permits or financing, changes in laws, regula tions and policies affecting mining operations, risks
relating to epidemics or pandemics such as COVID –19, the Company's limited o perating history, currency
fluctuations, title disputes or claims, environmental i ssues and liabilities, as well as those factors discussed
under the heading "Risk Factors" in the Company's pr ospectus dated December 2, 2022, and other filings of
the Company with the Canadian Securi ties Authorities, copies of whic h can be found under the Company's
profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on fo rward-looking statements. The Company undertakes
no obligation to update any of the forward-looking statements in this news release except as otherwise required
by law.