Rokmaster Closes $400,000 Final Tranche of Private Placement & Awards Micon International Limited Contract to Update the Preliminary Economic Assessment on Revel Ridge
Rokmaster Closes $400,000 Final Tranche of
Private Placement & Awards Micon
International Limited Contract to Update the
Preliminary Economic Assessment on Revel
Ridge
TSXV: RKR
Frankfurt
: 1RR
OTC Pink:
RKMSF
VANCOUVER
,
March 4, 2020
/CNW/ - Rokmaster Resources Corp. (the "Company") wishes to
announce that it has closed the final tranche of its non-brokered private placement with the issuance
of 6,666,667 units at a price of
$0.06
per unit (a "Unit") for gross proceeds of
$400,000
. 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
March 4, 2022
and subject to an acceleration clause,
further 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
July 5, 2020
.
In connection with the closing of the final tranche, the Company paid cash finder's fees of
$23,280
and issued 388,000 finder's Compensation Options, in aggregate, to Leede Jones Gable Inc., 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
March 4, 2021
. The Units
have the same terms as the Units issued to the subscribers of the private placement.
Proceeds from the private placement will be used to update a historical Preliminary Economic
Assessment (PEA) and exploration work related to the Revel Ridge Project and for general working
capital purposes. The PEA will incorporate the new Mineral Resource Estimate reported in a
technical report ("see Rokmaster News Release dated,
February 25, 2020
) titled: "Updated
Technical Report on the Revel Ridge Property (Formerly J&L Property), Revelstoke Mining Division,
British Columbia, Canada
."
John Mirko
, the Company's President & CEO., stated "We are now well funded to complete an
updated PEA which will incorporate for the first time, the current, substantially enlarged, Mineral
Resource Estimate. We are excited to outline the preliminary economic potential of the project in the
coming months."
The technical information contained in this news release has been reviewed and approved by
Mark
Rebagliati
, P. Eng., a qualified person for the purposes of National Instrument 43-101.
For additional information on the Company and its projects, please visit the Company's website
www.rokmaster.com
or telephone (604) 290-4647.
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/March2020/04/c2160.html
%SEDAR: 00031923E
For further information:
on the Company and its projects, please visit the Company's website
www.rokmaster.com or telephone (604) 290-4647.
CO: Rokmaster Resources Corp.
CNW 22:49e 04-MAR-20