Rimrock Gold raises $42,500 via private placement of convertible notes

Company sells 8% promissory notes due July 3, 2015 to KBM through deal

By Devika Patel

Knoxville, Tenn., Oct. 27 – Rimrock Gold Corp. settled a $42,500 private placement of 8% convertible promissory notes with KBM Worldwide, Inc. on Oct. 21, according to an 8-K filed Monday with the Securities and Exchange Commission.

The note matures on July 3, 2015 and is convertible after 180 days after issuance into common shares at a price equal to 58% of the average of the lowest three trading prices for the stock during the 20 trading days preceding conversion.

The note may be prepaid during the first 180 days at redemption prices ranging from 110% of par to 135% of par.

The gold and lithium explorer is based in Las Vegas.

Issuer:	Rimrock Gold Corp.
Issue:	Convertible promissory note
Amount:	$42,500
Maturity:	July 3, 2015
Coupon:	8%
Conversion price:	58% of the average of the lowest three trading prices for the stock during the 20 trading days preceding conversion
Call option:	At 110 from day one to day 30, at 115 from day 31 to day 60, at 120 from day 61 to day 90, at 125 from day 91 to day 120, at 130 from day 121 to day 150 and at 135 from day 151 to 180
Warrants:	No
Investor:	KBM Worldwide, Inc.
Settlement date:	Oct. 21
Stock symbol:	OTCBB: RMRK
Stock price:	$0.03 at close Oct. 20
Market capitalization:	$831,600

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