Mr. Grant Ewing reports
ROCKRIDGE RESOURCES ANNOUNCES NON-BROKERED FINANCING
Rockridge Resources Ltd.
has arranged a non-brokered private placement of up to 16 million units of the company at a price of 12.5 cents per unit for total gross proceeds of $2-million. Each unit purchased will include one common share and one warrant. Each warrant will entitle the holder to purchase one additional common share for five years at a price of 22 cents per share. The company expects to close the financing shortly with expressed interest from a few lead orders, making up the majority of the financing.
The company intends to use the proceeds from this private placement for exploration activities and the coming drilling program at its Knife Lake copper project in Saskatchewan, as well as for general working capital purposes. The private placement is subject to TSX Venture Exchange approval, and all securities issued will be subject to a hold period expiring four months and one day from issuance. Finders' fees may be payable in connection with the private placement in accordance with the policies of the TSX Venture Exchange.
About Rockridge Resources Ltd.
Rockridge Resources is a publicly traded mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada and other mining-friendly jurisdictions. The company's Raney gold project is a high-grade gold exploration project located in the same greenstone belt that hosts the world-class Timmins and Kirkland Lake lode gold mining camps. The company's Knife Lake project is in Saskatchewan, which is ranked as one of the top mining jurisdictions in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS (volcanogenic massive sulphide), near-surface, copper-cobalt-gold-silver-zinc deposit open along strike and at depth. Rockridge's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships and the advancement of exploration projects in geopolitically favourable jurisdictions.
Rockridge currently has 52.4 million shares issued and outstanding.
We seek Safe Harbor.
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