Rockcliff Closes Final Tranche of WC Unit Offering
10 January 2014 - 7:21AM
Marketwired
Rockcliff Closes Final Tranche of WC Unit Offering
TORONTO, ONTARIO--(Marketwired - Jan 9, 2014) - Rockcliff
Resources Inc. ("Rockcliff" or the "Company") (TSX-VENTURE:RCR)
(Tier 1) is pleased to announce that further to its press release
of January 2, 2014, the Company has closed the final tranche of the
non-brokered private placement. The Company placed an additional
1,300,000 working capital units (each a "WC Unit") for proceeds of
$65,000. Rockcliff paid an additional finder's fee of $1,000 and
issued an additional 20,000 Compensation Options in respect of the
final tranche.
Insiders of the
Company acquired an additional of $55,000 of WC Units pursuant to
this final tranche. The insider private placements are exempt from
the valuation and minority shareholder approval requirements of
Multilateral Instrument 61-101 ("MI 61-101") by virtue of the
exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in
that the fair market value of the consideration for the securities
of the Company to be issued to the insiders does not exceed 25% of
its market capitalization.
Securities issued
under the final tranche are subject to a hold period expiring on
May 10, 2014.
Rockcliff Resources
Inc.
Rockcliff Resources
Inc. is a Canadian resource exploration company focused on
discovery and advancement of its high-quality mineral properties at
its Snow Lake Project. Rockcliff presently controls the Snow Lake
Project in Manitoba, totalling in excess of 400 km2. The project
includes two VMS high grade copper rich National Instrument 43-101
("NI 43-101") Resources (Rail and T-1 Copper Deposits), one
historic VMS copper deposit (Lon), the T-2 Copper Zone (Tower),
numerous untested geophysical anomalies and several additional
properties with VMS potential. Rockcliff also owns a zinc-silver
rich NI 43-101 Resource (Shihan) in Ontario.
Rockcliff's two
principle assets are the high grade T-1 Copper Deposit mineral
resource at the Tower Property and the Rail Deposit at the Rail
Property.
For more information
please visit our website at www.rockcliffresources.com.
Forward-Looking
Statement:
Some of the
statements contained herein may be forward-looking statements which
involve known and unknown risks and uncertainties. Without
limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of
the Company are forward looking statements that involve various
risks. The following are important factors that could cause the
Company's actual results to differ materially from those expressed
or implied by such forward-looking statements: changes in the world
wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.
There can be no assurance that forward-looking statements will
prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. Rockcliff
undertakes no obligation to update such forward-looking statements
if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on such
forward-looking statements.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Rockcliff Resources Inc.Ken Lapierre P.Geo.President &
CEO(416) 644-1752 or (647)
678-3879klapierre@rockcliffresources.comwww.rockcliffresources.com
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