VANCOUVER, BC, July 12,
2023 /CNW/ - Rokmaster Resources Corp. (TSX: RKR)
(OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or
the "Company") is pleased to announce a non-brokered
private placement financing of up to 8,000,000 units at a price of
$0.05 per unit (a "Unit") for gross
proceeds of up to $400,000 (the
"Private Placement"). Each Unit consists of one common share
of the Company (a "Share") and one-half non-transferable
share purchase warrant (a "Warrant"). Each Warrant is
exercisable to purchase one additional common share of the Company
(a "Warrant Share") for a period of one year from the date
of closing of the Private Placement at an exercise price of
$0.09 per Warrant.
The Warrants are subject to an accelerated expiry date, which
comes into effect when the trading price on the TSX Venture
Exchange of the Company's common shares closes at or above
$0.15 per share for a period of 10
consecutive trading days commencing four months plus one day after
the date of closing. In such event, the Company may, at its option,
accelerate the expiry date of the Warrants by issuing a press
release (the "Notice") to the Warrant holders and in such
case, the expiry date of the Warrants will be 30 days from the date
of the Notice.
Proceeds from the Private Placement will be used to fund the
Company's projects and for general working capital purposes. The
Company reserves the right to accept additional funds, subject to
regulatory approval, should the Private Placement be
oversubscribed.
Directors and officers of the Company may acquire securities
under the Private Placement, which participation would be
considered to be a "related party transaction" as defined under
Multilateral Instrument 61-101 ("MI 61-101"). Such participation is
expected to be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101.
The Private Placement is subject to TSX Venture Exchange
approval. All shares issued pursuant to this offering and any
shares issued pursuant to the exercise of warrants will be subject
to a four-month and one day hold period from the closing date.
For more information, please contact Mr. John Mirko, CEO of Rokmaster Resources,
jmirko@rokmaster.com, Ph. 1-604-290-4647 or the Company's website:
www.rokmaster.com
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
John Mirko,
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term in defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news
release may contain forward-looking information within the meaning
of applicable securities laws ("forward-looking statements").
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects," "plans," "anticipates," "believes," "intends,"
"estimates," 'projects," "potential" and similar expressions, or
that events or conditions "will," "would," "may," "could" or
"should" occur. These forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events
or results to differ materially from those reflected in the
forward-looking statements, including, without limitation: risks
related to fluctuations in metal prices; uncertainties related to
raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting
from weather, logistical, technical or other factors; the
possibility that results of work will not fulfill expectations and
realize the perceived potential of the Company's properties; risk
of accidents, equipment breakdowns and labour disputes or other
unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in the work program; the
risk of environmental contamination or damage resulting from
Rokmaster's operations and other risks and uncertainties. Any
forward-looking statement speaks only as of the date it is made
and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise.
SOURCE Rokmaster Resources Corp.