Rokmaster Closes Private Placement
ROKMASTER CLOSES PRIVATE PLACEMENT
VANCOUVER, BC
,
Aug. 25, 2022
/CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB:
RKMSF) (FSE: 1RR1)
("Rokmaster"
or the
"Company")
is pleased to announce that it has closed
its previously announced non-brokered financing (the "
Financing
") with the issuance of 3,100,000
flow-through units (the "
FT Units
") at a price of
$0.15
per FT Unit and 7,166,665 non-flow-through
units (the "
NFT Units
") at a price of
$0.12
per NFT unit (the "
NFT Units
") for gross proceeds of
$1,325,000
.
Each FT Unit is comprised of one flow-through common share (the "
FT Share
") plus one-half (1/2)
non-transferable share purchase warrant (the "
FT Warrant
") to purchase one non-flow-through
common share (a "
Warrant Share
") at
$0.25
per Warrant Share which expires on
August 24, 2023
.
The FT Warrants are subject to an acceleration provision as more detailed in the Company's news
release dated
August 12, 2022
.
Each NFT Unit is comprised of one common share plus one non-transferable share purchase
warrant (the "
NFT Warrant
") to purchase a Warrant Share at
$0.20
which expires on
August 24,
2023
. The NFT Warrants are subject to an acceleration provision as more detailed in the Company's
news release dated
August 12
, 2022.
In connection with the closing of the Financing, the Company paid cash finder's fees in aggregate of
$88,100
and issued a total of 687,666 finder's warrants (the "
Finder's Warrants
") to certain finders
and of the total Finder's Warrants issued, 186,000 has the same terms as the FT Warrants and
501,666 has the same terms as the NFT Warrants.
The Financing is subject to the receipt of all necessary approvals, including the approval of the TSX
Venture Exchange and other regulatory approvals. All securities issued pursuant to the Financing
are subject to a statutory hold period which expires on
December 25
, 2022. Proceeds from the
Financing will be used for exploration and general working capital purposes.
An insider of the Company subscribed for 2,166,666 NFT Units in the Financing for gross proceeds
of
$260,000
, which participation constituted a "related party transaction" as defined under
Multilateral Instrument 61-101 ("
MI 61-101
"). Such participation is exempt from the formal valuation
and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the
securities acquired by the insider, nor the consideration for the securities paid by such insider,
exceed 25% of the Company's market capitalization.
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.
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 25-AUG-22