Rokmaster Resources Corp. (TSX-V: RKR) (OTCQB: RKMSF) (FSE: 1RR1) (” Rokmaster ” or the ” Firm “) is happy to announce that it has closed the non-brokered financing (the ” Financing “) involving the issuance of flow-through items (the ” Circulation-By way of Models “) and non-flow-through items (the ” Non-Circulation-By way of Models ” and along with the Circulation-By way of Models, the ” Models “).
Pursuant to the Financing, the Firm issued a complete of 13,727,158 Circulation-By way of Models at $0.44 per unit, for gross proceeds of $6,039,950 , and 9,639,750 Non-Circulation-By way of Models at $0.32 per unit, for gross proceeds of $3,084,720 , for combination gross proceeds from the Financing of $9,124,670 .
Every Circulation-By way of Unit is comprised of 1 flow-through frequent share of the Firm (a ” Circulation-By way of Share “) and one transferrable share buy warrant to buy one non-flow-through frequent share of the Firm (a ” Warrant Share “) at a value of $0.48 per Warrant Share for a interval of two years expiring on December 30 , 2022.
Every Non-Circulation-By way of Unit is comprised of 1 frequent share of the Firm (a ” Frequent Share “) and one transferrable share buy warrant (a ” NFT Warrant “) to buy one Warrant Share at a value of $0.48 for a interval of two years expiring on December 30, 2022 .
In reference to the closing of the Financing, the Firm paid money finder’s charges of $609,215 , and issued 1,562,383 finder’s warrants to Ascenta Finance Corp. (” Ascenta “). Every finder’s warrant entitles Ascenta to buy one Warrant Share at a value of $0.48 for a interval of two years expiring on December 30, 2022 .
The securities issued pursuant to the Financing are topic to a four-months and at some point maintain interval expiring Could 1, 2021 and weren’t provided or registered in america .
The gross proceeds raised from the sale of the Circulation-By way of Shares will likely be utilized by the Firm for exploration financing that can qualify as “Canadian Exploration Bills”, as that time period is outlined within the Revenue Tax Act ( Canada ) solely. The web proceeds raised from the sale of the Non-Circulation-By way of Models will likely be utilized by the Firm on non-flow-through eligible venture bills, in addition to for normal working capital functions.
John Mirko , Rokmaster’s President and CEO, acknowledged “We’re happy to shut this spherical of financing with investments by Crescat Capital LLC and continued assist by DELPHI Unternehmensberatung AG. This places us on a strong footing to sharply deal with rising sources at our Revel Ridge Venture.”
Rokmaster expects the stability of the Non-Circulation-By way of Unit financing (see Firm Information Launch dated December, 16, 2020) to shut in early January 2021 .
On behalf of the Board of Administrators,
John Mirko , President and Chief Govt Officer.
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
Rokmaster controls a portfolio of three important exploration and improvement initiatives all of that are positioned in southern British Columbia in areas of wonderful infrastructure. The three initiatives embrace:
- Revel Ridge. Rokmaster is at present conducting an underground drill program on the Revel Ridge venture positioned in southeastern British Columbia 35 km’s N of the Metropolis of Revelstoke . Revel Ridge is a high-grade gold and polymetallic orogenic sulphide deposit which has been the topic of a PEA Technical Report dated December 8, 2020 .
- Large Copper. Rokmaster controls the Large Copper property within the Creston space of Southern British Columbia . Large Copper is a high-grade copper-silver prevalence hosted in mid-Proterozoic rocks. Copper-silver mineralization has been traced for 3 km alongside strike and is uncovered in a sequence of adits and trenches over roughly 250- 300 m of vertical aid. Large Copper seemingly belongs to a category of stratabound substitute copper-silver deposits hosted inside mid – Proterozoic quartzitic sediments. The fashion and stratigraphic setting of mineralization at Large Copper could also be analogous to related stratabound silver-copper deposits in NW Montana e.g. the Troy mine (64 million tonnes of 0.74% Cu and 54 g/t Ag (Western Mining Historical past, 2020) or Hecla’s Montanore Mine, 112 million tonnes at 51.2 g/t Ag and 0.7% Cu. ( Hecla web site hyperlink).
- Duncan Zinc. Duncan Zinc is a carbonate hosted silver-lead-zinc deposit positioned close to Duncan Lake in southern British Columbia . The deposit is hosted inside a Cambrian age Badshot Limestone which additionally hosts silver-lead-zinc mineralization at Teck’s at present producing Pend D’Oreille mine in addition to previous producers together with the Blue Bell Mine, Reeves MacDonald, Jersey-Emerald and HB mines. Mineralization at Duncan Lake types within the crest and limbs of the regional scale Duncan Lake anticline, the place sturdy lead-zinc +/- silver mineralization has been traced by floor and underground drilling for about 2500 m . At Duncan Lake, Rokmaster will likely be focusing on > 30 Mt of >10% Pb+Zn+Ag. Historic background and a geological synthesis of the Duncan Lake deposit is offered in a NI 43-101 report by Lane, B., 2018: Technical Report on the Duncan Lake Venture.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:
This information launch might include forward-looking data throughout the which means of relevant securities legal guidelines (“forward-looking statements”). Ahead-looking statements are statements that aren’t historic information and are usually, however not at all times, recognized by the phrases “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” ‘initiatives,” “potential” and related expressions, or that occasions or situations “will,” “would,” “might,” “might” or “ought to” happen. These forward-looking statements are topic to quite a lot of dangers and uncertainties which might trigger precise occasions or outcomes to vary materially from these mirrored within the forward-looking statements, together with, with out limitation: dangers associated to fluctuations in steel costs; uncertainties associated to elevating ample financing to fund the deliberate work in a well timed method and on acceptable phrases; adjustments in deliberate work ensuing from climate, logistical, technical or different elements; the chance that outcomes of labor won’t fulfill expectations and notice the perceived potential of the Firm’s properties; threat of accidents, tools breakdowns and labour disputes or different unanticipated difficulties or interruptions; the opportunity of price overruns or unanticipated bills within the work program; the chance of environmental contamination or harm ensuing from Rokmaster’s operations and different dangers and uncertainties. Any forward-looking assertion speaks solely as of the date it’s made and, besides as could also be required by relevant securities legal guidelines, the Firm disclaims any intent or obligation to replace any forward-looking assertion, whether or not because of new data, future occasions or outcomes or in any other case.
SOURCE Rokmaster Resources Corp.
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