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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
VANCOUVER, British Columbia, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (“Rockridge”) (the “Company”) announces that it has arranged a non-brokered private placement of up to 16 million units of the Company (the “Units”) at a price of CAD $0.125 per Unit for total gross proceeds of $2 million (the “Private Placement”). Each Unit purchased will include one common share and one warrant. Each warrant will entitle the holder to purchase one additional common share for five (5) years at a price of $0.22 per share. The Company expects to close the financing shortly with expressed interest from a few lead orders making up the majority of the financing.
The Company intends to use the proceeds from this Private Placement for exploration activities and the upcoming drilling program at its Knife Lake Copper Project in Saskatchewan, as well as for general working capital purposes. The Private Placement is subject to TSX Venture Exchange approval and all securities issued will be subject to a hold period expiring four months and one day from issuance. Finders' fees may be payable in connection with the Private Placement, in accordance with the policies of the TSX Venture Exchange.
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 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. The Company's Knife Lake Project is in Saskatchewan, which is ranked as one of the top mining jurisdictions 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. 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 52.4 million shares issued and outstanding.
Rockridge Resources Ltd.
For further information contact myself or:
Jordan Trimble, President or
Spencer Coulter, Corporate Communications
Rockridge Resources Ltd.
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward Looking Information
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.