VANCOUVER, BC, July 14,
2023 /CNW/ - Rokmaster Resources Corp. (TSXV: RKR)
(OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the
"Company") is pleased to announce that it has closed its
non-brokered financing (the "Financing") with the issuance
of 10,000,000 units at a price of $0.05 per unit (a "Unit") for gross
proceeds of $500,000.
Each Unit is comprised of one common share of the Company and
one-half (1/2) non-transferrable common share purchase warrant.
Each whole warrant entitles the holder to purchase one additional
common share of the Company (a "Warrant Share") at a price
of $0.09 per Warrant Share for a
period of one year expiring on July 14,
2024 (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 $0.15 per common share on the TSX Venture
Exchange (the "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").
Certain insiders of the Company acquired $245,000 of the Financing and as such a portion
of the Financing is considered a related party transaction as
defined in the Exchange's Policy 5.9 and Multilateral Instrument
61-101 Protection of Minority Security Holders in Special
Transactions ("MI 61-101").The Company is relying upon the
exemption from the formal valuation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value
of the shares subscribed for, nor the consideration paid for the
shares, exceeds 25% of the Company's market capitalization
The securities issued pursuant to the Financing are subject to a
four-months and one day hold period expiring November 15, 2023 and were not offered or
registered in the United
States.
Proceeds from the Financing will be used to fund the Company's
projects and for general working capital purposes.
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.