09:33:50 EDT Sat 04 May 2024
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or Name
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Rover Metals Corp (2)
Symbol ROVR
Shares Issued 42,429,712
Close 2023-05-26 C$ 0.085
Market Cap C$ 3,606,526
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Rover Metals hires four European marketing consultants

2023-05-26 17:57 ET - News Release

Mr. Judson Culter reports

ROVER METALS APPOINTS NEW CONSULTANTS

Rover Metals Corp. is providing a regulatory news release in regard to new additions to the company's team of consultants.

European marketing consultant appointments and stock option grants

The company has hired four European marketing consultants. Three of the marketing consultants are based in Germany, and one consultant is based in Switzerland. The marketing consultants will assist the company with promoting its rebranding as a lithium junior miner in the key European markets of Germany and Switzerland. Pursuant to these consulting agreements, stock option grants of 400,000 stock options with an exercise price of 10 cents under the standard terms of the company's stock option plan (four-year life), has been awarded; and 70,000 stock options with an exercise price of 12 cents under the standard terms of the company's stock option plan (four-year life), has been awarded.

Swiss business development consultant appointment and stock option grant

The company has hired a Zug, Switzerland, consultant to provide business development consulting services in the key mining markets of England, France, Germany and Switzerland. The company's new Swiss business development consultant will spend approximately 50 per cent of his time working for the company. His roles and responsibilities include travelling throughout central Europe representing the company at mining events. Pursuant to the consulting agreement, a stock option grant of 250,000 stock options with an exercise price of 12 cents under the standard terms of the company's stock option plan (four-year life), has been awarded. The consultant will be also be paid $6,000 per month. the company is seeking Toronto Venture Exchange approval to pay $2,500 of the monthly fee through the issuance of the company's common shares. Subject to approval by the TSX-V, the monthly conversion price for the $2,500 monthly common shares payment shall be the greater of: (a) the five-day VWAP for the last five trading days of the month; or (b) five cents. If approved, the common shares will be issued on a quarterly basis, in the month following the end of each calendar year quarter-end.

Appointment of Hybrid Financial

Further to Rover's release of May 2, 2023, the company wishes to disclose additional details of its consulting contract with Hybrid Financial. Hybrid Financial has been engaged by the company for a 12-month period, commencing on May 1, 2023. Hybrid's roles and responsibilities include heightening market and brand awareness for Rover's pivot into lithium raw materials mining, as well as to broaden the company's reach within the investment community. Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data-driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal. As of the date of this release, Hybrid does not have any ownership interest in the securities of the company, nor does it hold any rights to acquire an ownership interest in the securities of the company, through derivates such as warrants or stock options.

Pursuant to the company's contract with Hybrid, Hybrid will provide 12 months of services from May 1, 2023, through to April 30, 2024, for a monthly fee of $15,000 and a one-time capital markets advisory services fee of $90,000. The Hybrid capital markets program is meant to assist the company with its future financing efforts as the company will need to raise future equity financings to pay for exploration drilling and resource definition at its Let's Go lithium project in southwest Nevada. Hybrid will make introductions to its network of retail brokers in Canada and the United States (no finders' fees will be paid in connection with these introductions).

As of the date of this release, the company has received conditional acceptance from the TSX-V for the Hybrid agreement, subject to the dissemination of this news release. The company plans to begin paying the monthly fee due under the Hybrid contract in June. The terms of the agreement call for the capital markets advisory fee to be paid out of the closing proceeds of the company's next financing. However, as of the date hereof, the company has no immediate plans for a new financing, so management is unable to comment on the timing of the capital markets advisory payment.

Upcoming Fastmarkets Lithium Supply and Battery Raw Materials Americas

The Fastmarkets Lithium Supply and Battery Raw Materials Americas annual event is the largest global forum for lithium and battery raw materials. It's an unmissable opportunity to access end-to-end coverage of the battery raw materials industry, including price volatility and supply chain risks, as well as battery recycling and innovations in battery chemistries. As the biggest gathering of the global battery raw materials community, there is no better chance to network with peers and connect with leaders in the industry. The jam-packed agenda covers key topics for all those involved in the production, procurement and investment in battery raw materials. Access key insights and strengthen relationships with your peers at Fastmarkets Lithium Supply and Battery Raw Materials Americas.

List of sponsorship attendees

Judson Culter, chief executive officer at Rover Metals, states: "Rover will have a booth in the exhibit hall at the Fastmarkets Las Vegas event. Management looks forward to having meaningful discussions about the EV raw materials supply chain."

About Rover Metals Corp.

Rover is a publicly traded junior mining company that is currently focused on the development of a claystone lithium project in southwest Nevada, United States. Plans for 2023 include a reverse circulation drill program at the Let's Go lithium project. The company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc and copper. Its precious metal projects include gold and silver. The company is exclusive to the mining jurisdictions of Canada and the United States.

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