Red ROCK Capital to Split Shares and Complete Private Placement
RED ROCK CAPITAL CORP.
Suite 2200, 885 West Georgia Street
Vancouver, British Columbia
V6C 3E8
NEWS RELEASE
RED ROCK CAPITAL TO SPLIT SHARES AND COMPLETE PRIVATE PLACEMENT
November 16th, 2017 – Vancouver, British Columbia – Red Rock Capital Corp. (the “Company”)
announces that it’s board of directors has elected to terminate the letter of intent with Electric
Metals Corp. (“Electric Metals”) announced on October 16th. While the board will continue with
its review of potential “qualifying transactions” for the Company, it does not intend to pursue a
transaction with Electric Metals at this time.
As part of i ts efforts to arrange a “qualifying transaction”, the board of d irectors has also
approved a forward share split on the basis of 2.33 common shares for every 1 common share
currently outstanding. The board is of the view that the share split will provide a more attractive
capital structure for potential transactions. Following completion of the share split, the Company
will have approximately 24,931,000 common shares outstanding.
Completion of t he share split remains subject to the approval of the TSX Venture Exchange.
The Company will issue a further news release once such approval has been obtained and a
record date determined for the share split.
Following completion of the share split, the Company intends to undertake a private placement
of up to 6,363,636 common shares at a post-share split price of $0.11 per share, for gross
proceeds of u p to $700,000. T he Company intends to utilize the proceeds of t he private
placement to retire existing trading payables, to ensure the Company remains current in its
continuous disclosure obligations and for ongoing due diligence of p rospective “qualifying
transactions”.
In connection with the private placement, the Company may pay finders’ fees to eligible parties
who introduce subscribers to the Company. All securities to be issued in the private placement
will be subject to a four-month-and-one-day statutory hold period. C ompletion of t he private
placement remains subject to the approval of the TSX Venture Exchange.
Following completion of the share split, the Company also intends to grant 200,000 incentive
stock options to the Chief Executive Officer of the Company. Each option will be exercisable at
a post-share split price of $0.15 per share for a period of thirty-six months.
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. W hen or if used in this news
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release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar
words or expressions identify forward-looking statements or information. T hese 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. S uch 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. M any 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.