Mr. Michael England reports
ROCKLAND RESOURCES ARRANGES FINANCING
Rockland Resources Ltd. has arranged a non-brokered private placement of three million units at a price of six cents per unit for aggregate gross proceeds of $180,000. Each unit will be composed of one common share and one transferable share purchase warrant of the company. Each warrant will entitle the subscriber to purchase one warrant share for a 36-month period after the closing date at an exercise price of 10 cents per share.
Net proceeds of the financing will be used to advance the corporation's
Cole gold mine project in Red Lake, Ont., and for
general working capital purposes.
Shares issued pursuant to the financing will be subject to a four-month hold period according to applicable securities laws of Canada.
Finders' fees will be payable on the private placement subject to the policies of the Canadian Securities Exchange.
Rockland further announces it has set 750,000 options to directors, officers and consultants of the company at a price of eight cents for a period of three years in accordance with the company's stock option plan.
About Rockland Resources Ltd.
Rockland Resources is committed to unlocking value through focused mineral exploration and discovery. The company's portfolio includes the historic Cole gold mine project in the prolific Red Lake district of Ontario and a beryllium exploration portfolio in Utah, positioned to supply a vital critical metal for emerging technologies. By leveraging geological expertise, disciplined exploration and strategic project development, Rockland Resources aims to deliver meaningful growth and long-term value to its shareholders.
We seek Safe Harbor.
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