Rockridge Announces Highland Park Group as Strategic Investor and $4.5 Million Private Placement
10 Juni 2011 - 3:30PM
Marketwired
Rockridge Capital Corp. (TSX VENTURE: RRC) ("Rockridge" or the
"Company") has arranged a non-brokered private placement of
7,062,000 Units of the company at a price of $0.64 per Unit for
gross proceeds of approximately $4.5 million. Each Unit will
consist of one common share and one common share purchase warrant.
Each such warrant will entitle the holder to purchase one common
share of the company for a period of 18 months from the closing
date at a price of $0.80 per common share.
The private placement will be taken-up by a single investor, the
Highland Park Group (or nominee), ("Highland Park"). The private
placement is designed to provide Highland Park with an immediate
9.9% ownership of Rockridge on a fully diluted basis. The Company
has granted to Highland Park a non-dilutive right where they may
participate in any future equity financings conducted by Rockridge
so that they may maintain their ownership percentage. At closing,
Highland Park will be entitled to nominate one director for
election to Rockridge's board of directors and shall have the right
to nominate a second director in the event they fully exercise the
warrants comprised in the Units.
Karl Kottmeier, Rockridge's CEO, commented, "This is a
substantial advancement for Rockridge. The Highland Park Group is
world-renowned for their successes in identifying and advancing
high quality mineral development projects through to production. We
look forward to the working with this experienced and highly
regarded investment group. Rockridge management believes that the
interest and investment by Highland Park is a testament to the
potential of the Fatou gold project and will greatly assist us in
raising the profile of Rockridge in the investment community."
About Highland Park Group. The Highland Park investors were
instrumental in the funding, growth and development of LionOre into
a major, international nickel company. After the sale of LionOre in
2007 the Group have successfully invested in and supported the
strategic development of Mantra Resources Limited (Uranium,
Tanzania), Mirabela Nickel Limited (Nickel, Brazil) and Coalspur
Mines Limited (Thermal Coal, Alberta, Canada). A spokesman for
Highland Park stated that "We traditionally invest in projects
where resource definition is more advanced and this represents our
first venture into the higher risk arena of an early exploration
play. However, at this stage of the financial cycle, we feel this
to be our most appropriate point of entry into the gold mining
industry."
The private placement is scheduled to close on or about June 27,
2011 and is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including the
approval of the TSX Venture Exchange and the securities regulatory
authorities.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKRIDGE CAPITAL
CORP.
Karl Kottmeier, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Contacts: Rockridge Capital Corp. Karl Kottmeier President (604)
678 8941 Rockridge Capital Corp. Kirk Gamley VP Corporate
Development (604) 678 8941 (604) 689 7442 (FAX)
www.rockridgecapitalcorp.com
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