Rockland Resources (RKL-Cse) Closes PP
Apr 27, '21 - NR
Rockland Resources Ltd., further to its news release dated April 6, 2021, has closed the oversubscribed non-brokered private placement. The company issued 10.44 million units at a price of 20 cents per unit for aggregate gross proceeds of $2,088,000. Each unit comprises one common share and one-half of one transferable common share purchase warrant of the company. Each whole warrant will entitle the subscriber to purchase one warrant share for a 24-month period after the closing date at an exercise price of 30 cents per share.
Proceeds raised will be used for advancing the company's Cole gold mine property in Red Lake and the Old Timer property near Nelson, B.C., as well as for general working capital.
Finders' fees of $78,080 cash and 425,400 finders' warrants were paid to arm's-length parties.
Shares issued pursuant to the financing will be subject to a four-month hold period according to applicable securities laws of Canada.
About Rockland Resources Ltd.
Rockland is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the properties. In addition to the Cole gold property, Rockland is exploring the Summit Old Timer property, which consists of three mineral claims covering an area of 1,915 hectares, located approximately 17 kilometres southeast of the city of Nelson, within the Nelson mining division in British Columbia.
On Behalf of the Board of Directors
Mike England
CEO, President and Director
For further information, please contact:
Mike England
Office: 604-683-3995
Email: mike@engcom.ca |
