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ROK Resources Announces Additional Private Placement Financing

·3 min read

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

REGINA, SK / ACCESSWIRE / August 28, 2020 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce that it intends to proceed with a financing consisting of common shares in the capital of the Company (each a "Common Share") at a price of $0.20 per Common Share for gross proceeds of up to $2,000,000 (the "Offering"). The Offering is expected to be non-brokered (although the Company retains the right to pay finder's fees or commissions on issuances pursuant to the Offering) and is subject to approval of the TSX Venture Exchange, including the pricing and other material terms thereof.

The Company expects to use the proceeds from the Offering for general corporate purposes as well as the operation and development of the assets recently acquired in the Glen Ewen area of Southern Saskatchewan pursuant to the Company's June 30, 2020 press release.

About ROK

ROK (previously Petrodorado Energy Ltd.) was previously engaged in petroleum and natural gas exploration and development activities in Colombia and is currently engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the TSX Venture Exchange under the trading symbol "ROK".

For further information, please contact:

Cameron Taylor, President and CEO
Lynn Chapman, VP Finance and CFO
Phone: (306) 522-0011
Email: info@rokresources.ca

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals or future plans with respect to pursuing the Offering and the expectations regarding the receipt of regulatory approval for the Offering as well as the intended use of proceeds thereof. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.

SOURCE: ROK Resources Inc.



View source version on accesswire.com:
https://www.accesswire.com/603711/ROK-Resources-Announces-Additional-Private-Placement-Financing