Business
Rogue Stone Update: Closing First Tranche of Financing, Acquiring Bobcaygeon Quarry Resuming Operations Immediately
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 Stone Update: Closing First Tranche of Financing, Acquiring Bobcaygeon Quarry Resuming Operations ImmediatelyNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESClosing First Tranche of $401,600 of the Private PlacementReceived conditional TSXV approval of the acquisition of the fully permitted Bobcaygeon quarryAcquisition remains subject only to the transfer of the permit and final approval of the TSXVTORONTO, ON / ACCESSWIRE / October 25, 2019 / 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 TSX Venture Exchange's (\"TSXV\") conditional approval of Rogue's agreement to acquire an 85% interest in the Bobcaygeon limestone quarry (the \"Bobcaygeon Acquisition\") (see the August 12, 2019 press release).\"I'm excited to close this part of the financing, insiders bought in for this tranche, alongside new and existing shareholders who believe in the fundamentals of the Rogue Stone business\", said Sean Samson, President and CEO of Rogue, \"Buyers are looking for this stone in the Ontario market and we are excited to get moving with Rogue's Bobcaygeon Acquisition. We expect to have an additional update on Orillia and the continued financing in November.\"Closing Tranche 1 of the Private PlacementRogue is pleased to announce closing (the \"Closing\") of the first tranche of its previously announced non-brokered private placement (the \"Offering\"). At Closing the Company received aggregate gross proceeds of $401,600 from the Offering, at a price of $0.10 per unit (\"Unit\") from the issuance of 4,016,000 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 $0.20 until October 25, 2021. The proceeds from the sale of Units will be used for project acquisition expenses and general corporate purposes. The Common Shares and Warrants issued at Closing are subject to approval of the TSXV and to resale restrictions in accordance with applicable securities laws.In connection with Closing, the Company has paid finders' fees of $1,974 and has also issued 19,740 non-transferable warrants (\"Finder's Warrants\") to certain arm's length finders...