Proceeds of deal slated for exploration on Pinaya Gold-Copper Project
By Devika Patel
Knoxville, Tenn., May 28 - Rokmaster Resources Corp. said it raised C$850,000 in the second and final tranche of a C$1.85 million non-brokered private placement of units. The deal priced for C$3.5 million on Feb. 18 and was revised to raise C$3 million on April 11. The company took in C$1 million on April 22.
The company sold 18.5 million units of one common share and a warrant at C$0.10 per unit. It sold 10 million units in the initial tranche and 8.5 million units in the second tranche.
Each warrant is exercisable at C$0.20 for two years, with the first-tranche warrants expiring on April 21, 2016 and the second-tranche warrants expiring on May 26, 2016. The strike price reflects a 100% premium to the Feb. 17 closing share price of C$0.10.
Proceeds will be used for exploration on the company's Pinaya Gold-Copper Project in Peru and general working capital purposes.
The gold and silver and base metals explorer is based in Vancouver, B.C.
| Issuer: | Rokmaster Resources Corp.
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| Issue: | Units of one common share and a warrant
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| Amount: | C$1.85 million
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| Units: | 18.5 million
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| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years, April 21, 2016, May 26, 2016
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| Warrant strike price: | C$0.20
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| Agent: | Non-brokered
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| Pricing date: | Feb. 18
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| Amended: | April 11
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| Settlement date: | April 22 (for C$1 million), May 28 (for C$850,000)
|
| Stock symbol: | TSX Venture: RKR
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| Stock price: | C$0.10 at close Feb. 17
|
| Market capitalization: | C$4.04 million
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