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RooGold Closes Second Tranche of Private Placement
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) - Further to its October 4, 2021 news release, RooGold Inc. (" RooGo
About this update from Metalite Resources Inc
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) - Further to its October 4, 2021 news release, RooGold Inc. (\" RooGold \" or the \" Issuer \") announces that it has closed a second tranche of its previously announced Non-Brokered Unit Private Placement, on a post-Consolidation basis, by issuing 2,399,500 Units at $0.25 per Unit and raising $599,875.00. Each Unit consists of a Common Share and a half (1/2) a Common Share Purchase Warrant, each whole Warrant entitling the holder to purchase an additional Common Share at $0.40 per Share for a two year period from Closing. The term of the Warrants is subject to an Accelerator Clause that the Issuer can elect to trigger if the Issuer's Share price trades above $0.50 for 30 consecutive trading days. The net proceeds from the Private Placement, together with the net proceeds from the first tranche closing of $2,632,500, will be used for phase 1 exploration of RooGold's Australian properties acquired from Southern Precious Metals Ltd. (see Aug. 19, 2021 news release), investor relations & marketing, as a reserve for exploration of its conditionally acquired Australian properties from 1267248 B.C. Ltd. (formerly, RooGold Inc.), and Aussie Precious Metals Corp, and for working capital. In connection with the Private Placement, Foundation Markets Inc. received Finder's Fees of $28,390 and 69,760 Finders' Warrants, each Finder's Warrant entitling the holder to purchase a Common Share at $0.32 for a two year period. The term of the Finder's Warrants is subject to an Accelerator Clause that the Issuer can elect to trigger if RooGold's shares trade above $0.50 for 30 consecutive trading days. The Units are subject to a statutory restricted trading period expiring on May 21, 2022. Market Awareness Engagement RooGold also would like to announce that it has engaged Stockhouse Publishing Ltd. (\" Stockhouse \"), which owns a streaming platform with one of the largest communities of retail investors in North America, to provide investor awareness and digital media communication services to the Company. Under the terms of the engagement, Stockhouse has been retained for a 12-month period at $120,000.00. Stockhouse records on average over 1 million unique investors per month, with over 400,000 registered members. About ROOGOLD ROOGOLD is a Canadian ba...