Business
Rockland Resources Closes Private Placements and Acquires The Mckenzie Island Twin Break Project in the Red Lake Mining District, Ontario
Vancouver, British Columbia, February 23, 2026 – TheNewswire - Rockland Resources Ltd. (the “Company” or "Rockland") (CSE: RKL) (OTCQB: BERLF) (FSE: GB2) is ple
About this update from Rockland Resources Ltd.
[{"type":"text","content":"Vancouver, British Columbia, February 23, 2026 – TheNewswire - Rockland Resources Ltd. (the “Company” or \"Rockland\") (CSE: RKL) (OTCQB: BERLF) (FSE: GB2) is pleased to provide the following update on the Company’s activities. DRILL PROGRAM Rockland continues to drill in at its 100% owned Cole Gold Mines project in the Red lake Mining District, Ontario. The program is now on hole 12 with the first 5 drilled holes in at the lab now and results expected in the near future. FINANCING CLOSING Rockland announces that it has closed the non-brokered private placements announced February 9, 2026. The Company issued 1.375 million hard dollar units (the \"Units\") at a price of $0.20 per Unit for aggregate gross proceeds of $275,000. Each Unit is comprised of one common share (\"Share\") and one transferable Share purchase warrant of the Company (\"Warrant\"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.275 per share. Net proceeds of the Financing will be used to advance the Corporation's Cole Gold Mines project in Red Lake, Ontario and for general working capital purposes. The Company further announces it has closed the non-brokered private placement of 1,000,000 flow-through shares at a price of $0.25 per FT Share (the \"FT Offering\"), for aggregate gross proceeds of up to $250,000. Each flow-through unit is comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of RKL at a price of $0.35 for a period of 24 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec). The FT shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). The proceeds from the sale of the FT Units will be used to advance the Company's Cole Gold Mines project in Red Lake. Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada. ACQUI...