10:33:57 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rokmaster Resources Corp (2)
Symbol RKR
Shares Issued 28,149,662
Close 2020-01-28 C$ 0.12
Market Cap C$ 3,377,959
Recent Sedar Documents

Rokmaster closes $300,000 first tranche of financing

2020-01-29 08:32 ET - News Release

Mr. John Mirko reports

ROKMASTER CLOSES $300,000 FIRST TRANCHE OF PRIVATE PLACEMENT

Rokmaster Resources Corp. has closed the first tranche of its non-brokered private placement with the issuance of five million units at a price of six cents per unit for gross proceeds of $300,000. Each unit comprises one common share of the company and one non-transferable common share purchase warrant exercisable to purchase one additional common share of the company at a price of 10 cents for a period of two years expiring on Jan. 28, 2022, and subject to an acceleration clause as more detailed in the company's news release dated Jan. 2, 2020. All securities issued with respect to the first tranche are subject to a hold period expiring on May 29, 2020.

In connection with the closing of the first tranche, the company paid cash finders' fees of $21,360 and issued 356,000 finder compensation options, in aggregate, to PI Financial Corp. and Ascenta Finance Corp. Each compensation option entitles the holder to purchase one unit at six cents per unit for a period of one year expiring on Jan. 28, 2021. The units have the same terms as the units issued to the subscribers of the private placement.

The company intends to proceed with the non-brokered private placement (as more detailed in the company's news release dated Jan. 24, 2020) up until Feb. 17, 2020, for gross proceeds of up to an additional $400,000. Closing of the balance of the private placement, the payment and/or issuance of any further finder's fee and the Huakan-Rokmaster agreement (as more detailed in the company's news release dated Dec. 30, 2019) are subject to TSX Venture Exchange approval, and which may not be completed or approved by the exchange.

Proceeds from the private placement will be used to update a historical preliminary economic assessment and exploration work related to the Revel Ridge project and for general working capital purposes.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.