Rokmaster Closes $2.7 Million First Tranche of Financing
ROKMASTER CLOSES $2.7 MILLION FIRST
TRANCHE OF FINANCING
VANCOUVER, BC
,
Feb. 15, 2022
/CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB:
RKMSF) (FSE: 1RR1)
("Rokmaster"
or the
"Company")
is pleased to announce that it has closed
the first tranche of its a non-brokered financing (the
"Financing"
) with the issuance of 10,853,000
units at a price of
$0.25
per unit (a
"Unit"
) for gross proceeds of
$2,713,250
.
Each Unit is comprised of one common share of the Company and one non-transferrable common
share purchase warrant to purchase one additional common share of the Company (a "
Warrant
Share
") at a price of
$0.45
per Warrant Share for a period of two years expiring on
February 14,
2024
(the "
Expiry Date
"), subject to the Acceleration Provision.
If at any time prior to the Expiry Date, the Company's common shares trade at or above a price of
$0.65
per common share on the TSX Venture Exchange (the "
Exchange
") for a period of 10
consecutive trading days commencing four months plus one day after the issue date, the Company
may, at its option, accelerate the Expiry Date by issuing a press release announcing such
acceleration (the "
Acceleration Press Release
"), and, in such case, the Expiry Date shall be
deemed to be the 30th day following the date of issuance of the Acceleration Press Release (the
"
Acceleration Provision
").
The securities issued pursuant to the Financing are subject to a four-months and one day hold period
expiring
June 15, 2022
and were not offered or registered in
the United States
.
In connection with the closing of the Financing, the Company paid cash finder's fees in aggregate of
$150,378
, and issued a total of 601,510 finder's warrants (the "
Finder's Warrants
") to certain
finders. Each Finder's Warrant entitles the holder to purchase one Warrant Share at a price of
$0.45
for a period of two years expiring on
February 14, 2024
and is also subject to the Acceleration
Provision above.
Proceeds from the Financing will be used to fund the Revel Ridge Project and for general working
capital purposes.
The technical information in this news release has been prepared in accordance with Canadian
regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by
Eric
Titley P.Geo
., who is independent of Rokmaster and who acts as Rokmaster's Qualified Person.
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
John Mirko
,
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
press release.
About Rokmaster
Rokmaster controls a portfolio of three significant exploration and development projects all of which
are in southern
British Columbia
in regions of excellent infrastructure. The three projects include:
1
.
Revel Ridge.
Rokmaster is currently conducting an underground drill program at the Revel
Ridge Project located in southeastern
British Columbia
35 km's N of the
City of Revelstoke
.
Revel Ridge is host to a high-grade gold and polymetallic orogenic sulphide deposit which has
been the subject of a Preliminary Economic Assessment Technical Report dated
December 8,
2020
and an updated Mineral Resource Estimate with an effective date of
November 15, 2021
,
both published on Sedar.
2
.
Big Copper.
Rokmaster controls the Big Copper Property in the
Creston
area of
Southern
British Columbia
. Big Copper is a high-grade copper-silver occurrence hosted in mid-Proterozoic
rocks. Copper-silver mineralization has been traced for 4 km along strike and is exposed in a
series of adits and trenches over approximately 400 to
500 m
of vertical relief. Big Copper likely
belongs to a class of stratabound replacement copper-silver deposits hosted within mid –
Proterozoic quartzitic sedimentary rocks. The style and stratigraphic setting of mineralization at
Big Copper may be analogous to similar stratabound silver-copper deposits in
NW Montana
e.g., the Troy Mine (64 million tonnes of 0.74% Cu and 54 g/t Ag (Western Mining History,
2020) or
Hecla's
Montanore Mine, 112 million tonnes at 51.2 g/t Ag and 0.7% Cu (
Hecla
, 2020
Annual Report, Pg. 119.
www.hecla-mining.com
).
1
Footnote (1).
The qualified person has been unable to verify this inferred resource.
3
.
Duncan Zinc.
Duncan is a carbonate hosted silver-lead-zinc deposit located near Duncan Lake
in southern
British Columbia
. The Duncan Deposit is hosted within a Cambrian age Badshot
Limestone which also hosts Ag-Pb-Zn mineralization at Teck's currently producing Pend
D'Oreille mine, as well as past producers including the Blue Bell Mine, Reeves MacDonald,
Jersey-Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and limbs of
the regional scale Duncan Lake Anticline, where strong lead-zinc +/- silver mineralization has
been traced by surface and underground drilling for approximately
2500 m
. At Duncan Lake,
Rokmaster will be targeting > 30 Mt of >10% Pb+Zn+Ag. Historical background and a
geological synthesis of the Duncan Lake Deposit is provided in a NI 43-101 report by
Lane, B.,
2018: Technical Report on the Duncan Lake Project.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may
contain forward-looking information within the meaning of applicable securities laws ("forward-
looking statements"). Forward-looking statements are statements that are not historical facts and
are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions
"will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events or results to differ materially from
those reflected in the forward-looking statements, including, without limitation: risks related to
fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned
work in a timely manner and on acceptable terms; changes in planned work resulting from weather,
logistical, technical or other factors; the possibility that results of work will not fulfill expectations and
realize the perceived potential of the Company's properties; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in the work program; the risk of environmental
contamination or damage resulting from Rokmaster's operations and other risks and uncertainties.
Any forward-looking statement speaks only as of the date it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events or results or
otherwise.
SOURCE
Rokmaster Resources Corp.
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For further information:
please contact Mr. John Mirko, CEO of Rokmaster Resources,
[email protected], Ph. 1-604-290-4647 or the Company's website: www.rokmaster.com; For
shareholder information please contact: Mike Kordysz, [email protected], Ph. +1 (604)
319-3171
CO: Rokmaster Resources Corp.
CNW 05:00e 15-FEB-22