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Rokmaster Closes $300,000 First Tranche of Private Placement
Rokmaster Closes $300,000 First Tranche of Private Placement Canada NewsWire VAN...
About this update from Rokmaster Resources Corp.
[{"type":"text","content":"\n\n\n\nRokmaster Closes $300,000 First Tranche of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 29, 2020\n\n\n\n TSXV: RKRFrankfurt: 1RROTC Pink: RKMSF\n VANCOUVER, Jan. 29, 2020 /CNW/ - Rokmaster Resources Corp. (the \"Company\") wishes to announce that it has closed the first tranche of its non-brokered private placement with the issuance of 5,000,000 units at a price of $0.06 per unit (a \"Unit\") for gross proceeds of $300,000. Each Unit is comprised of one common share of the Company and one non-transferable common share purchase warrant exercisable to purchase one additional common share of the Company at a price of $0.10 for a period of two years expiring on January 28, 2022 and subject to an acceleration clause as more detailed in the Company's news release dated January 2, 2020. All securities issued with respect to the first tranche are subject to a hold period expiring on May 29, 2020.\nIn connection with the closing of the first tranche, the Company paid cash finder's fees of $21,360 and issued 356,000 finder's Compensation Options, in aggregate, to PI Financial Corp. and Ascenta Finance Corp. Each Compensation Option entitles the holder to purchase one Unit at 0.06 per Unit for a period of one year expiring on January 28, 2021. The Units have the same terms as the Units issued to the subscribers of the private placement.\nThe Company intends to proceed with the non-brokered private placement (as more detailed in the Company's news release dated January 24, 2020) up until February 17, 2020, for gross proceeds of up to an additional $400,000. Closing of the balance of the private placement, the payment and/or issuance of any further finder's fee and the Huakan-RKR Agreement (as more detailed in the Company's news release dated December 30, 2019) are subject to TSX Venture Exchange (the \"Exchange\") approval, and which may not be completed or approved by the Exchange. \nProceeds from the private placement will be used to update a historical Preliminary Economic Assessment and exploration work related to t...