Rokmaster Resources Corp. Closes Final Tranche of Private Placement
VANCOUVER, June 12, 2020 - Rokmaster Resources Corp. (the "Company") wishes to announce that it has closed the final tranche of its non-brokered private placement with the issuance of 768,182 non-flow-through units at a price of $0.22 per unit (a " NFT Unit") for gross proceeds of $169,000. Each NFT Unit is comprised of one common share of the Company and one transferable common share purchase warrant exercisable to purchase one additional common share of the Company at a price of $0.30 for a period of three years expiring on June 11, 2023 and subject to an acceleration clause as more detailed in the Company's news release dated April 27, 2020. All securities issued with respect to the final tranche are subject to a hold period expiring on October 12, 2020. In connection with the closing of the final tranche, the Company paid cash finder's fees of $10,560 and issued 40,800 finder's Compensation Options, in aggregate, to Canaccord Genuity Corp. and Ascenta Finance Corp. Each Compensation Option entitles the holder to purchase one NFT Unit at 0.22 per NFT Unit for a period of three year expiring on June 11, 2023. The NFT Units have the same terms as the NFT Units issued to the subscribers of the private placement.
Proceeds from the private placement will be used for exploration work related to the Revel Ridge Project and for general working capital purposes.
In addition, the Company has granted 600,000 incentive stock options to consultants and advisors of the Company under the Company's stock option plan. The options are exercisable for a period of 3 years at an exercise price of $0.20 per common share.
On behalf of the Board of Directors,
"John Mirko"
John Mirko, President and Chief Executive Officer.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Rokmaster Resources Corp.
Contact
For additional information on the Company and its projects, please visit the Company's website www.rokmaster.com or telephone (604) 290-4647
