VANCOUVER, June 25, 2014 /CNW/ - RockBridge Resources Inc. ("RockBridge" or the "Company" – TSXV symbol: RBE) announces that it will be conducting a private placement offering of 6,000,000 Units at $0.05 each, on a non-brokered basis subject to regulatory approval. Each Unit shall consist of one regular common share and one share purchase warrant exercisable at $0.10 per share for one year.
Finder's fees, subject to regulatory approval, of 10% will be paid in cash or shares on the financing to investment dealers or other qualified finders, and 10% brokers' warrants to brokers, with each warrant exercisable for one year at $0.10 per share.
Net proceeds from the financing will be used to fund the Company's strategy of growth through acquisitions, and for general corporate purposes,
The Company remains committed to continue to actively seeking to increase its production and revenue, primarily through acquisitions of producing assets in Western Canada. The Company has a signed offer to purchase certain producing gas properties as described in the news release of June 19, 2014, subject to due diligence and a formal agreement. As well, it is currently considering several other potential transactions, along with options to increase production at its existing properties.
About RockBridge Resources Inc.
RockBridge currently has working interests from 25% to 100% in 5 producing wells in Alberta, 3 of which it is the operator, together with a small interest in the Woodrush project in northern BC consisting of 9 oil and gas wells. It also holds a 50% interest in a gas project and suspended well in the Knopcik area of Alberta, together with interests in several other non-producing properties in Alberta.
ON BEHALF OF THE BOARD
ROCKBRIDGE RESOURCES INC.
Steve Mathiesen, President & CEO
This news release may include statements about expected further events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. RockBridge cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what RockBridge currently foresees. Discussion on the various factors that may affect future results is contained in RockBridge's recent filings, available on SEDAR.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this news release.
Reference to BOE means barrels of oil equivalent and is derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of gas to one barrel (bbl) of oil. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner top and does not represent a value equivalency at the wellhead. References to BOEPD means barrels of oil equivalent per day.
SOURCE: Rockbridge Energy Inc.
For further information: For more information on RockBridge, please email [email protected] or call 604-687-4719.