06:43:15 EDT Thu 28 Mar 2024
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Rover Metals closes $64,699 first tranche of financing

2020-01-29 14:52 ET - News Release

Mr. Judson Culter reports

ROVER METALS PROVIDES UPDATE ON ITS PRIVATE PLACEMENT FINANCING

Further to its Nov. 19, 2019, press release, Rover Metals Corp. has performed a first closing under its private placement financing with six-cent units for gross proceeds of $64,699.98. Pursuant to the terms of the financing, the company has issued 1,078,333 units. Each unit comprises one common share and one common share purchase warrant. Each warrant has a five-year life and an exercise price of 12 cents per warrant, with an acceleration clause if the company's shares trade at 15 cents per share for five consecutive trading days.

Trading in the company's common shares remains halted on the TSX Venture Exchange. The halt is expected to continue pending the completion of the private placement financing for future minimum proceeds of at least $450,000.

This is an updating press release. The company plans to issue a further press release once it has completed the pending conditions and provide the information prescribed by applicable policies of the TSX-V related to the transaction.

We seek Safe Harbor.

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