VANCOUVER, BC, April 6,
2023 /CNW/ - Rokmaster Resources Corp. (TSXV:
RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or
the "Company") is pleased to announce that it has
completed a non-brokered financing (the "Financing")
involving the issuance of flow-through units (the "FT
Units") through the issuance of 4,545,455 FT Units at
$0.11 per FT Unit, for gross proceeds
of $500,000.
Each FT Unit is comprised of one flow-through common share of
the Company (the "FT Share") and one non-transferrable
common share purchase warrant to purchase one non-flow-through
common share of the Company (a "Warrant Share") at a price
of $0.13 per Warrant Share for a
period of two years expiring on April 5,
2025 (the "Expiry Date"), subject to the Acceleration
Provision.
If at any time prior to the Expiry Date, the Company's common
shares trade at or above a price of $0.20 per common share on the TSX Venture
Exchange for a period of 10 consecutive trading days commencing
four months plus one day after the issue date, the Company may, at
its option, accelerate the Expiry Date by issuing a press release
announcing such acceleration (the "Acceleration Press
Release"), and, in such case, the Expiry Date shall be deemed
to be the 30th day following the date of issuance of the
Acceleration Press Release (the "Acceleration
Provision").
The securities issued pursuant to the Financing are subject to a
four-months and one day hold period expiring August 6, 2023 and were not offered or registered
in the United States.
In connection with the closing of the Financing, the Company
paid cash finder's fees in aggregate of $35,820, and issued a total of 325,636 finder's
warrants (the "Finder's Warrants") to certain
finders. Each Finder's Warrant entitles the holder to purchase
one Warrant Share at a price of $0.13
for a period of two years expiring on April
5, 2025 and is also subject to the Acceleration Provision
above.
The gross proceeds raised from the sale of the FT Shares will be
used by the Company for exploration that will qualify as "Canadian
Exploration Expenses", as that term is defined in the Income
Tax Act (Canada) only.
On Behalf of the Board of Directors of
Rokmaster Resources
Corp.
John Mirko,
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term in defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press 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.