VANCOUVER, July 18, 2019 /CNW/ - Rokmaster Resources Corp. (the "Company") wishes to announce that it has closed the first tranche of its non-brokered private placement with the issuance of 750,000 units ("Unit") at a price of $0.04 per Unit for gross proceeds of $30,000 and the issuance of 400,000 flow-through shares ("FT Share") at a price of $0.05 per FT Share for gross proceeds of $20,000. Each Unit is comprised of one common share of the Company and one non-transferable common share purchase warrant exercisable to purchase one additional common share of the Company at a price of $0.07 for a period of one year expiring July 16, 2020 and subject to an acceleration clause as more detailed in the Company's news release dated May 8, 2019.
The Company intends to continue to proceed with the non-brokered private placement (as more detailed in the Company's news release dated May 8, 2019) for a period of 30 days from the date of this news release.
All securities issued pursuant to the first tranche are subject to a four month hold period expiring November 17, 2019. Proceeds from this private placement will be used to fund exploration work related to the Company's Duncan Lake Zinc-Lead Property and for general working capital purposes.
For additional information on the Company and its projects, please visit the Company's website www.rokmaster.com or telephone (604) 290-4647.
On behalf of the Board of Directors,
John Mirko, President and Chief Executive Officer.
Neither the 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.
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.