Rover Metals Signs Non-Binding LOI to Acquire Gold Projects in the Western U.S. and withdraws from the Transaction to Acquire the Toquima Silver Property
Rover Metals Signs Non-Binding LOI to Acquire Gold Projects in the
Western U.S. and withdraws from the Transaction to Acquire the Toquima
Silver Property
VANCOUVER
,
April 30, 2020
/CNW/ -
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF)
("
Rover Metals
" or the "
Company
") announces that further to its
press release of
April 10, 2019
, the Company has made the decision to cancel its non-binding letter of intent to acquire 100% of the Toquima silver project in
central
Nevada, USA
(the "Original LOI"). Rover Metals has entered into a new non-binding letter of intent (the "New LOI") with the same vendor of the Toquima
Property (the "Vendor") to acquire one or more
gold-dominant exploration
projects, subject to due diligence. The Company is currently reviewing several gold
projects in
Utah
,
Arizona
, and
Nevada
advanced by the Vendor. Conditional upon positive due diligence, it is the Company's intention to complete a transaction to
acquire 100% interest in one or more of these U.S.-based gold projects. Certain cash payments advanced under the Original LOI will be paid back to Rover
Metals under the New LOI.
Concurrent Financing Now Closed
Further to its
November 19, 2019
, Press Release, Rover Metals closed its
$0.06
Unit Private Placement Financing on
April 24, 2020
. The Company raised a total
of
$420,685.08
under three closings (
$50,000.02
closing on
April 24, 2020
;
$64,699.98
closing on
January 29, 2020
; and
$305,985.06
closing on
August 29,
2019
). Pursuant to the terms of the financing, the Company issued a total of 7,011,418 units under the financing. Each unit is comprised of one common share and
one common share purchase warrant. Each warrant has a five-year life and an exercise price of
$0.12
per warrant. There is an acceleration clause in place on
1,911,667 of the warrants if the Company's shares trade at
$0.15
per share for five consecutive trading days.
Resumption of Trading
Trading in the Company's common shares will resume shortly upon the TSXV issuing their resumption to trade bulletin.
About Rover Metals
Rover Metals is a natural resource exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of
its existing projects.
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/
for daily company updates and industry news.
https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
"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. 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.
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SOURCE
Rover Metals Corp.
View original content:
http://www.newswire.ca/en/releases/archive/April2020/30/c4583.html
%SEDAR: 00045553E
For further information:
Judson Culter, Email: [email protected], Phone: (604) 449-5347
CO: Rover Metals Corp.
CNW 11:11e 30-APR-20