Mr. Matthew Turner reports
ROCKHAVEN RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT
Rockhaven Resources Ltd. has arranged a $500,000 non-brokered private placement with funds managed by Sprott Asset Management LP. The financing will consist of the sale of 3,333,333 units at a price of 15 cents per unit, with each unit to consist of one flow-through common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional non-flow-through common share at a price of 20 cents for a period of three years from closing.
"On behalf of the Rockhaven board of directors, I would like to thank Sprott Asset Management for the support in helping move the Klaza project forward," stated Matt Turner, Rockhaven's president and chief executive officer. "Including the funds raised in August, 2019, Rockhaven will have a healthy treasury of over $3.0-million and an aggressive 2020 exploration program at Klaza will be planned and announced in early 2020."
The proceeds from this private placement will be used to finance further exploration at the company's Klaza project in the Yukon. This placement is subject to regulatory acceptance. No finders' fees will be paid as part of the financing.
All securities issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the share purchase warrants, will be subject to a hold period of four months and one day from closing.
About Rockhaven Resources Ltd.
Rockhaven Resources is a mineral exploration company focused on growth through the advancement of its Klaza project.
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