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NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
Experienced public company CFO joins Rogue management team
In February-March Rogue Stone sold 3,313 tons realizing an average price of $74/ton
Average value of limestone sold rises as expected with increased demand for higher value products
TORONTO, ON / ACCESSWIRE / April 12, 2021 / Rogue Resources Inc. (TSX-V:RRS) ("Rogue" or the "Company") is pleased to announce the appointment of Mr. Travis Gingras as Chief Financial Officer ("CFO") of the Company. Mr. Gingras will replace Sean Samson, who has recently acted as Interim CFO.
Travis Gingras is a CPA, CMA and holds an MBA. He has more than twenty years of experience in finance, strategic planning, project management, accounting policy and financial reporting. Travis previously held CFO and executive level positions in a number of publicly traded exploration and mining companies including as CFO of Integra Gold Corp (formerly TSXV:ICG, purchased by Eldorado Gold in 2017).
"It's great to welcome Travis as CFO", said Sean Samson, President and CEO of Rogue. "Travis has a proven track record of sound leadership and financial expertise with public companies and we look forward to him joining the team."
Rogue Stone - February and March Update
Quarry Operations at the Orillia Quarry have continued through the winter and early spring with strong demand for Rogue's limestone products. During the months of February and March, the Company sold a total of 3,313 tons of limestone for gross revenue of $244,235 and are in line with the sales expectations following the closing of the 3rd quarter on January 31, 2021. Rogue Stone also observed the expected increase in the value of the limestone sold as the demand for the higher value limestone products, including steps, wall stone and flagstone, begins to pick up with the arrival of spring and the warmer weather.
Average Realized Revenue per ton sold
Average Cost of Goods ("COGS") per ton sold
November 2020 - January 2021
February - March
To be announced with
"As we approach our first full year of operations with both quarries, we are pleased to see that the demand and sales of limestone are continuing to meet or exceed expectations.", said Sean Samson, President and CEO of Rogue. "We anticipate that our sales will continue to increase through the spring and summer with rising revenue per ton sold as our sales mix shifts to more high value products."
About Rogue Resources Inc.
Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and quality deposits that can withstand all stages of the commodity price cycle. The Company includes Rogue Stone selling quarried limestone for landscape applications from two operating quarries in Ontario; Rogue Quartz focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec; Rogue Timmins with the gold potential at Radio Hill and an ownership position in the private company EV Nickel, exploring in the Shaw Dome.
The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.
For more information visit www.rogueresources.ca or contact:
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "believes", "anticipates", "expects", "plans", "intends", "target", "estimates", "projects", "continue", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: closing of future tranches of the Private Placement.
The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits; the ability of the Company to service its debt obligations; the Company's ability to qualify for government funded support programs; the Company's ability to raise capital on terms acceptable to it or at all; activities of governmental authorities (including changes in taxation and regulation); currency fluctuations; the unpredictable economic impact of the COVID-19 pandemic, including the acquisition of equipment and recruitment of human resources required for the sales expansion; the global economic climate; and competition.
The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements contained in this news release are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those risks identified in the Company's most recent annual and interim management's discussion and analysis, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Rogue Resources Inc.
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