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Rover Metals Signs Non-Binding LOI to Acquire Gold Projects in the Western U.S. and withdraws from the Transaction to Acquire the Toquima Silver Property
Rover Metals Signs Non-Binding LOI to Acquire Gold Projects in the Western U.S. and withdr...
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[{"type":"text","content":"\n\n\n\nRover Metals Signs Non-Binding LOI to Acquire Gold Projects in the Western U.S. and withdraws from the Transaction to Acquire the Toquima Silver Property\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, April 30, 2020\n\n\n\nVANCOUVER, April 30, 2020 /CNW/ - Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (\"Rover Metals\" or the \"Company\") announces that further to its press release of April 10, 2019, the Company has made the decision to cancel its non-binding letter of intent to acquire 100% of the Toquima silver project in central Nevada, USA (the \"Original LOI\"). Rover Metals has entered into a new non-binding letter of intent (the \"New LOI\") with the same vendor of the Toquima Property (the \"Vendor\") to acquire  one or more gold-dominant exploration  projects, subject to due diligence. The Company is currently reviewing several gold projects in Utah, Arizona, and Nevada advanced by the Vendor. Conditional upon positive due diligence, it is the Company's intention to complete a transaction to acquire 100% interest in one or more of these U.S.-based gold projects. Certain cash payments advanced under the Original LOI will be paid back to Rover Metals under the New LOI.    \nConcurrent Financing Now Closed\nFurther to its November 19, 2019, Press Release, Rover Metals closed its $0.06 Unit Private Placement Financing on April 24, 2020. The Company raised a total of $420,685.08 under three closings ($50,000.02 closing on April 24, 2020; $64,699.98 closing on January 29, 2020; and $305,985.06 closing on August 29, 2019). Pursuant to the terms of the financing, the Company issued a total of 7,011,418 units under the financing. Each unit is comprised of one common share and one common share purchase warrant. Each warrant has a five-year life and an exercise price of $0.12 per warrant. There is an acceleration clause in place on 1,911,667 of the warrants if the Company's shares trade at $0.15 per share for five consecutive trading days.\nResumption of Trading\nTrading in the Company's common shares wi...