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VANCOUVER, March 4, 2020 /CNW/ - Rokmaster Resources Corp.
(the "Company") wishes to announce that it has closed the final
tranche of its non-brokered private placement with the issuance of
6,666,667 units at a price of $0.06
per unit (a "Unit") for gross proceeds of $400,000. Each Unit is comprised of one common
share of the Company and one non-transferable common share purchase
warrant exercisable to purchase one additional common share of the
Company at a price of $0.10 for a
period of two years expiring on March 4,
2022 and subject to an acceleration clause, further detailed
in the Company's news release dated January
2, 2020. All securities issued with respect to the first
tranche are subject to a hold period expiring on July 5, 2020.
In connection with the closing of the final tranche, the Company
paid cash finder's fees of $23,280
and issued 388,000 finder's Compensation Options, in aggregate, to
Leede Jones Gable Inc., PI Financial Corp. and Ascenta Finance
Corp. Each Compensation Option entitles the holder to purchase one
Unit at 0.06 per Unit for a period of one year expiring on
March 4, 2021. The Units have the
same terms as the Units issued to the subscribers of the private
placement.
Proceeds from the private placement will be used to update a
historical Preliminary Economic Assessment (PEA) and exploration
work related to the Revel Ridge Project and for general working
capital purposes. The PEA will incorporate the new Mineral Resource
Estimate reported in a technical report ("see Rokmaster News
Release dated, February 25, 2020)
titled: "Updated Technical Report on the Revel Ridge Property
(Formerly J&L Property), Revelstoke Mining Division,
British Columbia, Canada."
John Mirko, the Company's
President & CEO., stated "We are now well funded to complete an
updated PEA which will incorporate for the first time, the current,
substantially enlarged, Mineral Resource Estimate. We are excited
to outline the preliminary economic potential of the project in the
coming months."
The technical information contained in this news release has
been reviewed and approved by Mark
Rebagliati, P. Eng., a qualified person for the purposes of
National Instrument 43-101.
For additional information on the Company and its projects,
please visit the Company's website www.rokmaster.com or telephone
(604) 290-4647.
On behalf of the Board of Directors,
"John Mirko"
John Mirko, President and Chief
Executive Officer.
Neither the 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.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:
This news release may contain forward-looking information within
the meaning of applicable securities laws ("forward-looking
statements"). Forward-looking statements are statements that are
not historical facts and are generally, but not always, identified
by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," 'projects," "potential" and similar
expressions, or that events or conditions "will," "would," "may,"
"could" or "should" occur. These forward-looking statements are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected
in the forward-looking statements, including, without limitation:
risks related to fluctuations in metal prices; uncertainties
related to raising sufficient financing to fund the planned work in
a timely manner and on acceptable terms; changes in planned work
resulting from weather, logistical, technical or other factors; the
possibility that results of work will not fulfill expectations and
realize the perceived potential of the Company's properties; risk
of accidents, equipment breakdowns and labour disputes or other
unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in the work program; the
risk of environmental contamination or damage resulting from
Rokmaster's operations and other risks and uncertainties. Any
forward-looking statement speaks only as of the date it is made
and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise.
SOURCE Rokmaster Resources Corp.