07:14:55 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rockland Minerals Corp
Symbol RL
Shares Issued 43,176,061
Close 2014-10-15 C$ 0.03
Market Cap C$ 1,295,282
Recent Sedar Documents

Rockland Minerals arranges $850,000 private placement

2014-10-22 10:50 ET - News Release

Mr. Rav Mlait reports

ROCKLAND ANNOUNCES PRIVATE PLACEMENT FINANCING

Rockland Minerals Corp. intends to undertake a non-brokered private-placement financing of up to $850,000.

The private placement consists of the issuance of up to 17 million flow-through units of the company at five cents per flow-through unit, with each flow-through unit consisting of one common share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) and one-half of one non-transferrable warrant. Each whole warrant will be exercisable at 10 cents into one additional common share for a period of 12 months after the closing.

A finder's fee of either cash and/or common shares and warrants equal to 8 per cent may be paid in connection with the private-placement offering. Each finder warrant will entitle the finder to purchase a non-flow-through common share at a price of 10 cents per share for a period of 12 months from the closing date of the private placement.

Ned Goodman intends to participate for $700,000 of the offering and, as a result, will be considered a control person as defined by the policies of the TSX Venture Exchange. At the request of Mr. Goodman, the company intends to approve the creation of a new control person by way of consent resolution of shareholders holding more than 50 per cent of common shares of the company (pursuant to TSX-V Policy 4.1). Assuming the offering is fully subscribed, Mr. Goodman's common share position would be 23.27 per cent on an undiluted basis and 30.58 per cent on a diluted basis.

All of the securities issued pursuant to the private placement will be subject to a restricted period of four months and one day from the date of closing. The company may close the private placement in one or more tranches and anticipates that the closing of the placement will take place before Oct. 30, 2014.

Rockland intends to use the proceeds from the private placement for its exploration on its Quebec properties. The private placement is subject to approval from the exchange.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.