VANCOUVER, British Columbia, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (“Rockridge”) (the “Company”) announces that it has arranged a non-brokered private placement of 1,500,000 units of the Company (the “Units”) at a price of CAD $0.35 per Unit for total gross proceeds of $525,000 (the “Private Placement”).
Each Unit purchased will include one flow-through common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one non-flow through common share for two (2) years at a price of $0.50 per common share.
The Company intends to use the proceeds from the Private Placement towards exploring its Knife Lake Copper Project, Saskatchewan, and its Raney Gold Project, Ontario. The Private Placement is subject to TSX Venture Exchange approval and all securities issued will be subject to a hold period expiring four months and one day from issuance. Finders' fees will be payable in connection with the Private Placement, in accordance with the policies of the TSX Venture Exchange.
In addition, Rockridge has also appointed Chantelle Collins as its new CFO. Ms. Collins is a Chartered Professional Accountant (CPA, CGA) and holds a Bachelor's degree in Accounting from the British Columbia Institute of Technology. Ms. Collins has 12 years' experience working in the public sector and is well versed in the financial reporting requirements of public companies. Ms. Collins currently serves as an officer for two other public companies. Amanda Chow has stepped down from her position as the Company’s CFO.
About Rockridge Resources Ltd.
Rockridge Resources is a new publicly traded mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada, specifically copper and battery metal projects. The Company's flagship project is the Knife Lake project located in Saskatchewan, which is ranked as the #2 mining jurisdiction in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS, near-surface copper-cobalt-gold-silver-zinc deposit open along strike and at depth. There is strong discovery potential in and around the deposit area as well as at regional targets on the 85,196-hectare property. Rockridge’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. The Company has approx. 23.2 million shares issued and outstanding.
Rockridge Resources Ltd.
President and CEO
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Corporate Development and Communications
Rockridge Resources Ltd.
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Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.