Business
Rocky Shore Gold Closes Second Tranche of Non-Brokered Private Placement
TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Rocky Shore Gold Ltd. (“Rocky Shore” or the “Company”) (CSE: RSG) is pleased to announce that it has closed the seco
About this update from Rocky Shore Gold Limited
[{"type":"text","content":" TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Rocky Shore Gold Ltd. (“Rocky Shore” or the “Company”) (CSE: RSG) is pleased to announce that it has closed the second tranche (the “Second Tranche”) of the non-brokered private placement (the “Offering”) previously announced on August 11, 2025. Under the Second Tranche, the Company raised aggregate gross proceeds of $1,299,000 and issued (i) 17,980,000 units (“Units”), at an issue price of C$0.05 per Unit, with each Unit comprised of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), and (ii) 8,000,000 Common Shares that qualify as “flow-through shares” (as defined in subsection 66(15) of the Income Tax Act (Canada)) (the “FT Shares”), at an issue price of C$0.05 per FT Share. Each Warrant entitles the holder thereof to acquire one additional Common Share, to be issued on a non-flow-through basis, at an exercise price of C$0.10 until September 25, 2028, but subject to accelerated expiry terms following the expiry of the four month and a day hold period. If the Common Shares trade at or above C$0.20 per share for 20 consecutive days, the Company will have the right to accelerate the exercise period to a period ending at least 30 days from the date that notice of such acceleration is provided to the holders of the Warrants. The proceeds from the Units issued under the Second Tranche will be used for general corporate purposes. The proceeds from the FT Shares issued under the Second Tranche will be used for the exploration and advancement of the Company’s Gold Anchor Project. In connection with the closing of the Second Tranche, the Company paid certain cash finders fees and issued an aggregate of 1,192,800 finder’s warrants (each, a “Finder’s Warrant”) to eligible finders in respect of subscriptions for Units and FT Units referred by such finders. Each Finder’s Warrant is exercisable to acquire one additional Common Share (a “Finder’s Warrant Share”) at an exercise price of $0.05 per Finder’s Warrant Share until March 25, 2027. All securities issued in connection with the Second Tranche are subject to a statutory hold period expiring January 26, 2026. MI 61-101 Insiders of the Company acquired an aggregate of 500,000 Units and 200,000 FT Shares in the Second Tranche (approximately $35,000 in ...