Rover Metals Corp. announces Non-Brokered Private Placement of up to CAD$1,250,000
Rover Metals Corp. announces Non-Brokered Private Placement of
up to CAD$1,250,000
VANCOUVER
,
March 4, 2019
/CNW/ -
Rover Metals Corp. (TSXV:ROVR) (OTCQB:ROVMF)
("
Rover Metals
" or the "
Company
") is pleased to
announce its intention to complete a non-brokered private placement of units (the "
Units
") at a purchase price of
$0.08
per Unit, for aggregate
gross proceeds of up to
CAD$1,250,000
(the "
Offering
"). Each Unit shall consist of one common share in the capital of the Company (a
"
Common Share
") and one Common Share purchase warrant (a "
Warrant
"). Each Warrant shall entitle the holder to acquire an additional
Common Share at a price of
$0.15
per share for a period of 24 months following the date of issuance.
Rover Metals anticipates using 80% of the proceeds of the Offering to finance exploration activities at the Cabin Lake Gold Project and remaining
use of proceeds for general and administrative expenses.
The Company may pay finder's fees in accordance with the policies of the TSX Venture Exchange in connection with the Offering.
Rover Metals anticipates relying, in part, on the exemption from the prospectus requirements provided in BC Instrument 45-534 –
Exemption From
Prospectus Requirement For Certain Trades to Existing Security Holders
(the "
Existing Shareholder Exemption
"). The Company may also rely
on other available prospectus exemptions.
Rover Metals has set
March 1, 2019
as the record date for determining shareholders entitled to participate in the Offering in reliance on the
Existing Shareholder Exemption. If the Offering is over-subscribed, Units will be allotted on a first come first served basis. Qualifying investors who
wish to participate in the Offering should contact the Company using the contact information set forth below. It is anticipated that the Offering will
close in one or more tranches commencing on or about
March 15, 2019
.
All securities issued under the Offering will be subject to a hold period of four months and a day from the distribution date, in accordance with
applicable securities laws. Completion of the Offering is subject to the receipt of all applicable approvals, including the approval of the TSX
Venture Exchange.
About Rover Metals
Rover Metals is a natural resource exploration company specialized in gold that is currently focused on the
Northwest Territories
of
Canada
, one
of the most mining friendly jurisdictions in
North America
.
The Cabin Lake Group of High Grade Gold Projects are located within 20km of
Fortune Minerals' (TSX:FT) planned NICO Project gold processor.
You can follow Rover Metals on its social media channels Twitter:
https://twitter.com/rovermetals
, LinkedIn:
https://www.linkedin.com/company/rover-metals/
, Facebook:
https://www.facebook.com/RoverMetals/
, and CEO.ca:
https://ceo.ca/rovr
for daily
company updates and industry news.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROVER METALS
"Judson Culter"
Chief Executive Officer and Director
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause Rover's actual results, performance or achievements, or developments in the industry to
differ materially from the anticipated results, performance or achievements expressed or implied by such 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. Forward-looking statements in this document include statements regarding Rover's expectations regarding the issuance
of Units and receipt of regulatory approval therefor and the use of proceeds from the Offering. There can be no assurance that such statements
will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are
cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover's
expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE
COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS
INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
View original content:
http://www.prnewswire.com/news-releases/rover-metals-corp-announces-non-brokered-private-placement-of-up-to-cad1-250-000--300805708.html
SOURCE
Rover Metals Corp.
View original content:
http://www.newswire.ca/en/releases/archive/March2019/04/c4385.html
%SEDAR: 00045553E
For further information:
Judson Culter, Email: [email protected], Phone: (604) 449-5347
CO: Rover Metals Corp.
CNW 08:00e 04-MAR-19