Business
ROK Resources Announces Closing of Private Placement Financing
REGINA, SK / ACCESSWIRE / November 9, 2020 / ROK Resources Inc. (" ROK " or the " Company ")...
About this update from Rok Resources, Inc. Class B
[{"type":"text","content":"ROK Resources Announces Closing of Private Placement FinancingREGINA, SK / ACCESSWIRE / November 9, 2020 / ROK Resources Inc. (\"ROK\" or the \"Company\") (TSXV:ROK) is pleased to announce that it has closed its previously announced financing consisting of units of the Company (each a \"Unit\") at a price of $0.20 per Unit for total gross proceeds of $1,392,000 (the \"Offering\"). Each Unit consisted of a common share in the capital of the Company (each, a \"Common Share\") and included one half of one common share purchase warrant (each, a \"Warrant\"), with each Warrant exercisable at a price of $0.30 to purchase one Common Share for a period of twenty four (24) months from the date of issuance, such that the Warrants will expire on November 9, 2022. A total of 6,960,000 Units were issued pursuant to the Offering. The Common Shares and Warrants issued pursuant to the Offering are subject to a hold period of four months and a day from the closing date, expiring on March 9, 2021. While the Offering was non-brokered, $14,000 was paid in finders fees and commissions to various brokers who assisted with finding subscribers to the Offering, in addition to the issuance of 35,000 broker warrants with the same terms as the Warrants. The Offering remains subject to the final approval of the TSX Venture Exchange.The Company expects to use the proceeds from the Offering for general corporate purposes as well as the operation and development of the assets recently acquired in the Glen Ewen area of Southern Saskatchewan pursuant to the Company's June 30, 2020 press release.About ROKROK is engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the TSX Venture Exchange under the trading symbol \"ROK.\"For further information, please contact:Cameron Taylor, President and CEOLynn Chapman, VP Finance and CFOPhone: (306) 522-0011Email: [email protected] Statement Regarding Forward-Looking InformationThis news release includes certain \"forward-looking statements\" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ mat...