Business
Rogue Corporate Update: Closing First Tranche of Financing; Full Fleet and Crews at Rogue Stone Quarries, Sales Continue
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES Closing F...
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"Rogue Corporate Update: Closing First Tranche of Financing; Full Fleet and Crews at Rogue Stone Quarries, Sales ContinueNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESClosing First Tranche of $160,740 of the Private PlacementFull team and eight pieces of equipment now in place at the Bobcaygeon and Orillia quarriesTORONTO, ON / ACCESSWIRE / May 27, 2020 / Rogue Resources Inc. (TSXV:RRS) (\"Rogue\" or the \"Company\") is pleased to announce the closing of an initial tranche of its previously announced private placement and the recalling of a full complement of operators and a fleet of eight pieces of equipment across Rogue Stone's Orillia and Bobcaygeon quarries.Closing Tranche 1 of the Private Placement Rogue is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the \"Private Placement\"). At closing of the first tranche of the Private Placement the Company received aggregate gross proceeds of $160,740. $119,240 was received from the sale of Non-Flow-Through Units (the \"Unit Offering\") at a price of $0.06 per unit (\"Unit\") from the issuance of 1,987,333 Units. Each Unit consists of one common share (\"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\") entitling the holder thereof to purchase one Common Share at an exercise price of $0.08 for a period of 36 months from the closing date. The proceeds from the Unit Offering will be used for general corporate purposes. $41,500 was also received from the sale of Flow-Through Units (the \"FT Unit Offering\") at a price of $0.07 per unit (\"FT Unit\") from the issuance of 592,857 FT Units. Each FT Unit consists of one flow-through Common Share and one Common Share purchase warrant (each, a \"Warrant\") entitling the holder thereof to purchase one Common Share at an exercise price of $0.08 for 36 months from the closing date. The proceeds from the FT Unit Offering will be used for Canadian Exploration Expenses, as defined in the Income Tax Act (Canada), including potential gold exploration at the Company's Radio Hill Project.In connection with closing, the Company will pay finders' fees of $2,310 and will also issue 38,500 non-transferable warrants (\"Finder's Warrants\") to certain arm's length finders. Each Finder's Warrant entitles the holder to acquire one addition...