Rokmaster Closes $300,000 First Tranche of Private Placement
Rokmaster Closes $300,000 First Tranche of
Private Placement
TSXV: RKR
Frankfurt
: 1RR
OTC Pink:
RKMSF
VANCOUVER
,
Jan. 29, 2020
/CNW/ - Rokmaster Resources Corp. (the "Company") wishes to
announce that it has closed the first tranche of its non-brokered private placement with the issuance
of 5,000,000 units at a price of
$0.06
per unit (a "Unit") for gross proceeds of
$300,000
. Each Unit
is comprised of one common share of the Company and one non-transferable common share
purchase warrant exercisable to purchase one additional common share of the Company at a price
of
$0.10
for a period of two years expiring on
January 28, 2022
and subject to an acceleration
clause as more detailed in the Company's news release dated
January 2, 2020
. All securities issued
with respect to the first tranche are subject to a hold period expiring on
May 29, 2020
.
In connection with the closing of the first tranche, the Company paid cash finder's fees of
$21,360
and issued 356,000 finder's Compensation Options, in aggregate, to PI Financial Corp. and Ascenta
Finance Corp. Each Compensation Option entitles the holder to purchase one Unit at 0.06 per Unit
for a period of one year expiring on
January 28, 2021
. The Units have the same terms as the Units
issued to the subscribers of the private placement.
The Company intends to proceed with the non-brokered private placement (as more detailed in the
Company's news release dated
January 24, 2020
) up until
February 17, 2020
, for gross proceeds of
up to an additional
$400,000
. Closing of the balance of the private placement, the payment and/or
issuance of any further finder's fee and the Huakan-RKR Agreement (as more detailed in the
Company's news release dated
December 30, 2019
) are subject to TSX Venture Exchange (the
"Exchange") approval, and which may not be completed or approved by the Exchange.
Proceeds from the private placement will be used to update a historical Preliminary Economic
Assessment and exploration work related to the Revel Ridge Project and for general working capital
purposes.
On behalf of the Board of Directors,
"John Mirko"
John Mirko
, President and 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.
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.
View original content:
http://www.newswire.ca/en/releases/archive/January2020/29/c9419.html
%SEDAR: 00031923E
For further information:
For additional information on the Company, the current private placement
or its projects, please visit the Company's website www.rokmaster.com or telephone (604) 290-
4647.
CO: Rokmaster Resources Corp.
CNW 08:00e 29-JAN-20