Opens Head Office in Toronto, Canada
Trading Symbol RCR: TSXV
TORONTO, Oct. 13 /CNW/ - Rockcliff Resources Inc. (the "Company)(RCR: Tier 1 TSX-V) is pleased to announce that it has closed the non-brokered private placement offering announced on September 28, 2009. The Company issued 5,000,000 Working Capital Units (the "WC Units") for proceeds of $500,000. Each WC Unit was priced at $0.10 and is comprised of one (1) common share of the Company and one (1) common share purchase warrant of the Company (a "Warrant"). Each full Warrant entitles the holder to acquire a common share of the Company at $0.15 until 5:00 p.m. (Toronto time) April 9, 2011. Rockcliff paid finders fees in the amount of $36,000 cash and 450,000 Unit Compensation Warrants which have the same terms as the Units issued under the private placement. The securities issued will be restricted from trading until February 10, 2010.
The proceeds from the financing will be used for exploration on Rockcliff's Snow Lake VMS Project and for working capital.
Also, the Company has relocated its head office to Toronto, Ontario. Kenneth Lapierre, President and CEO commented, "The move to Toronto was strategic in nature as it allows Management easier access to the financial markets and gives the Company wider exposure to the investment community at large. With our recent hiring of Fraser Strategies, a public affairs/media consultant Company, Rockcliff is now positioned for overall greater awareness in the public and financial sectors. Our goal is to aggressively inform these sectors of the investment potential of Rockcliff Resources as we continue to advance our Snow Lake Project in the search and discovery of copper, gold, zinc and silver deposits in the world class Flin Flon greenstone belt."
Rockcliff Resources Inc.
Rockcliff Resources Inc. is a Canadian resource exploration company focused on the Snow Lake VMS Project located in central Manitoba. The project totals in excess of 527 km(2) and is located within the prolific Flin Flon greenstone belt. The project presently includes five historical VMS deposits (Lon, Rail, Reed, Kof, Sylvia), the R1 VMS Zone, the Jackfish nickel zone and numerous additional areas with potential for VMS and nickel mineralization. Rockcliff also controls the Shihan VMS Project located in Northern Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Rockcliff Resources Inc.
For further information: For further information: please visit our website at www.rockcliffresources.com or contact Ken Lapierre, P.Geo., President and CEO of Rockcliff Resources Inc. at (416) 863-9800 or at firstname.lastname@example.org