VANCOUVER, British Columbia, Jan. 24, 2020 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (ROCK.V) (RRRLF) (Frankfurt:RR0) (“Rockridge” or the “Company”) announces that it has been requested by the OTC Markets Group Inc. (“OTC”) to comment on recent marketing activity concerning its common shares traded on the OTCQB marketplace.
The Company engaged GRA Enterprises LLC (the “Consultant”) to provide the following services: dissemination of news releases and newsworthy related events, communications and media services, the production and publication of investor bulletins on the National Inflation Association website, and distribution of e-mail alerts to the Consultant’s National Inflation e-mail list about the Company and its projects. In consideration of these services, the Company has paid the Consultant an upfront cash fee of US$30,000 for a 6-month contract. On January 22, 2020 and January 23, 2020, the Consultant profiled Rockridge to its e-mail subscriber list.
The Company and its officers, directors and controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) did not have editorial control over the materials, although the Company did review a draft for any factual inaccuracies about the Company. The Company is not able to determine whether the materials had any material impact on the trading of the Company’s common shares. The Consultant is an arm’s length party to the Company. The materials prepared by the Consultant presented a general overview of the Company’s business and operations and its potential. The OTC believes that the materials may have included speculative language and forward-looking statements about the Company’s future prospects.
Rockridge’s share price and trading volume have increased since the beginning of the year. The Company believes that this is an industry-wide trend due to increases in the prices of gold and copper during December 2019 and January 2020. The recent increased trading activity could also be attributed to an upcoming diamond drill program at the Company’s Raney Gold Project in Ontario (see Company News Releases dated December 5th, 2019 and January 13th, 2020).
Upon inquiry of the Company’s management, directors, control persons and third-party service providers, to the best of the Company’s knowledge during the past 90 days, two officers purchased and sold securities of the Company. However, to the best of the Company’s knowledge, no management, directors, control persons and third-party service providers have purchased or sold securities of the Company since the Company engaged the Consultant. During the prior 90 days, the Company completed a private placement financing in December 2019 (the aforementioned two officers participated in this financing) which closed at or around the market price on the date of closing and the securities issued were subject to a statutory hold period expiring four months and one day after the closing. The officers have reported their purchases of the securities on the System for Electronic Disclosure by Insiders (“SEDI”) at www.sedi.ca in compliance with insider reporting requirements under applicable securities laws. All directors, officers and controlling shareholders of the Company are required to report their purchase and sales of Company securities on SEDI and, to the knowledge of the Company, such filings are up to date in this regard.
In the last twelve months the Company has engaged Equity Guru Media Inc. (this contract has since expired) and GRA Enterprises LLC to profile the Company and its projects.
About Rockridge Resources Ltd.
Rockridge Resources is a publicly traded mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada and other mining-friendly jurisdictions. The Company's Knife Lake Project is located in Saskatchewan, which is ranked as the #3 mining jurisdiction in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS, near-surface copper-cobalt-gold-silver-zinc deposit open along strike and at depth. There is strong discovery potential in and around the deposit area as well as at regional targets on the 85,196-hectare property. Furthermore, the Company’s Raney Gold Project is a high-grade gold exploration project located in the same greenstone belt that hosts the world class Timmins and Kirkland Lake lode gold mining camps. Rockridge’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Additional information about Rockridge Resources and its project portfolio can be found on the Company’s website at www.rockridgeresourcesltd.com. Rockridge currently has 33.9 million shares issued and outstanding.
Rockridge Resources Ltd.
For further information contact myself or:
Jordan Trimble, President or
Simon Dyakowski, Corporate Development
Rockridge Resources Ltd.
Toll Free: 800-567-8181
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Forward Looking Information
This news release includes certain statements that constitute “forward-looking information or statements” within the meaning of applicable securities law, including without limitation, the technical, financial and business prospects of the Company and its properties, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, exchange rate fluctuations, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.