Rokmaster Resources Corp. (TSX-V: RKR) (OTCQB: RKMSF) (FSE: 1RR1) is pleased to announce that it has closed the non-brokered financing involving the issuance of flow-through units and non-flow-through units
Pursuant to the Financing, the Company issued a total of 13,727,158 Flow-Through Units at $0.44 per unit, for gross proceeds of $6,039,950, and 9,639,750 Non-Flow-Through Units at $0.32 per unit, for gross proceeds of $3,084,720, for aggregate gross proceeds from the Financing of $9,124,670.
Each Flow-Through Unit is comprised of one flow-through common share of the Company and one transferrable share purchase warrant to purchase one non-flow-through common share of the Company at a price of $0.48 per Warrant Share for a period of two years expiring on December 30, 2022.
Each Non-Flow-Through Unit is comprised of one common share of the Company and one transferrable share purchase warrant to purchase one Warrant Share at a price of $0.48 for a period of two years expiring on December 30, 2022.
In connection with the closing of the Financing, the Company paid cash finder’s fees of $609,215, and issued 1,562,383 finder’s warrants to Ascenta Finance Corp. Each finder’s warrant entitles Ascenta to purchase one Warrant Share at a price of $0.48 for a period of two years expiring on December 30, 2022.
The securities issued pursuant to the Financing are subject to a four-months and one day hold period expiring May 1, 2021 and were not offered or registered in the United States.
The gross proceeds raised from the sale of the Flow-Through Shares will be used by the Company for exploration financing that will qualify as “Canadian Exploration Expenses”, as that term is defined in the Income Tax Act (Canada) only. The net proceeds raised from the sale of the Non-Flow-Through Units will be used by the Company on non-flow-through eligible project expenses, as well as for general working capital purposes.
John Mirko, Rokmaster’s President and CEO, stated “We are pleased to close this round of financing with investments by Crescat Capital LLC and continued support by DELPHI Unternehmensberatung AG. This puts us on a solid footing to sharply focus on increasing resources at our Revel Ridge Project.”
Rokmaster expects the balance of the Non-Flow-Through Unit financing (see Company News Release dated December, 16, 2020) to close in early January 2021.
Rokmaster controls a portfolio of three significant exploration and development projects all of which are located in southern British Columbia in regions of excellent infrastructure. The three projects include:
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We acknowledge the [financial] support of the Government of Canada.