Rockridge Completes $4.5 Million Private Placement
July 15 2011 - 7:15AM
Marketwired
Rockridge Capital Corp. (TSX VENTURE: RRC) (the "Company") is
pleased to announce that effective July 13, 2011, it has closed a
non-brokered private placement for the sale of 7,062,000 units (the
"Units") at a price of $0.64 per Unit for gross proceeds of
$4,519,680. Each Unit is comprised of one common share and one
transferable common share purchase warrant. Each warrant entitles
the holder to purchase one common share of the Company for a period
of 18 months from the closing date at a price of $0.80 per common
share. The net proceeds of the financing will be used to finance
exploration and development work at the Company's Fatou gold
project in southern Mali, Africa and for general working capital.
The private placement was taken up by a single investor, the
Highland Park Group ("Highland Park"). Since the securities issued
will constitute more than 10% of the Company's issued share
capital, the private placement is subject to additional approvals
from the TSX Venture Exchange (the "Exchange'). Highland Park and
the Company have agreed to escrow 756,738 Units, and $484,312 of
the proceeds of the private placement pending the receipt of the
additional Exchange approvals, as required by the Exchange.
In conjunction with the private placement closing, the Company
has granted to Highland Park a non-dilutive right where it may
participate in any future equity financings conducted by the
Company so that it may maintain its ownership percentage. Highland
Park is also entitled to nominate one director for election to the
Company's board of directors and shall have the right to nominate a
second director in the event it fully exercises the warrants
comprising the Units. Effective July 13, 2011, Highland Park's
nominee, Mr. Peter Breese, was appointed a director of the
Company.
About Highland Park
The Highland Park investors were instrumental in the funding,
growth and development of LionOre into a major international nickel
company. After the sale of LionOre in 2007, the group has
successfully invested in and supported the strategic development of
Mantra Resources Limited (Uranium, Tanzania), Mirabela Nickel
Limited (Nickel, Brazil) and Coalspur Mines Limited (Thermal Coal,
Alberta, Canada).
Shares acquired by the placee, and shares which may be acquired
upon the exercise of any of the warrants, are subject to a hold
period of four months plus one day from the date of closing of the
offering in accordance with applicable securities legislation. The
financing is subject to the final approval of the Exchange.
Please visit our website at www.rockridgecapitalcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKRIDGE CAPITAL
CORP.
Karl Kottmeier, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Contacts: Rockridge Capital Corp. Karl Kottmeier President (604)
678 8941 Rockridge Capital Corp. Kirk Gamley VP Corporate
Development (604) 678 8941 (604) 689 7442 (FAX)
www.rockridgecapitalcorp.com