Rokmaster to Enter Into Loan Agreements and Issue Loan Bonus Warrants (TSXV): RKR ( Frankfurt ): 1RR
Rokmaster to Enter Into Loan Agreements and
Issue Loan Bonus Warrants
(TSXV): RKR
(
Frankfurt
): 1RR
(OTC:Pink): RKMSF
VANCOUVER
,
Jan. 7, 2020
/CNW/ - Rokmaster Resources Corp. ("
Rokmaster
" or the
"
Company
") is pleased to announce that, subject to regulatory approval, it will be entering into two
loan agreements (the "
Loan Agreements
") with two lenders (the "
Lenders
") pursuant to which the
Company will borrow
Cdn$105,000
from each Lender (an aggregate of
Cdn$210,000
) (the
"
Loans
"). One Lender is a company controlled by a Director of the Company and the other Lender
is at arms-length to the Company. The proceeds of the Loans will be used to pay the first payment
due under the option agreement with Huakan International Mining Inc. (the "
Huakan-RKR
Agreement
") as previously announced in the Company's news release dated
December 30, 2019
.
The Loans will bear interest of 8% per annum. The maturity date of the Loans will be the date that is
8 months following the date that the Lenders provide the Loans to the Company. The Loans may be
repaid prior to their maturity without penalty.
Subject to the approval of the TSX Venture Exchange (the "
TSXV
"), the Company will issue
1,300,000 share purchase warrants to each Lender (an aggregate of 2,600,000 share purchase
warrants) (the "
Loan Bonus Warrants
") as inducement for the Loans. Each Loan Bonus Warrant
will entitle the holder to purchase one common share of the Company at an exercise price of
$0.08
until the date that is 8 months following the date that the Company issues the Loan Bonus Warrants
to the Lenders. Rokmaster will also create a wholly owned subsidiary (the "
Subsidiary
") to whom
the Company will assign its rights under the Huakan-RKR Agreement, and following such
assignment, pledge to the arms-length Lender all the shares of the Subsidiary as security for the
repayment of its Loan to Rokmaster.
On behalf of the Board of Directors of
ROKMASTER RESOURCES CORP.
"John Mirko"
John Mirko
, President & Chief Executive Officer
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) nor any other regulatory authority accepts responsibility for the adequacy or accuracy of
this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
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 the negotiation of the terms of the Loan Agreements and issuance of the
Loan Bonus Warrants, the repayment of the Loans, TSXV acceptance of the Loan Bonus Warrants,
and business prospects and opportunities. 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/January2020/07/c1869.html
%SEDAR: 00031923E
For further information:
on the Company and its projects, please visit the Company's website
www.rokmaster.com or call (604) 290-4647.
CO: Rokmaster Resources Corp.
CNW 07:00e 07-JAN-20