VANCOUVER, BC, Sept. 22,
2022 /CNW/ - Rusoro Mining Ltd. (TSXV:
RML) (the "Company" or "Rusoro") is
pleased to announce that on September 21,
2022, it closed, subject to final approval of the TSX
Venture Exchange ("TSX-V"), its non-brokered private
placement (the "Financing") of 20,000,000 units (each, a
"Financing Unit") at a price of $0.0625 per Financing Unit for gross proceeds of
$1,250,000. Each Financing Unit
consists of one common share of the Company, and one common share
purchase warrant (a "Warrant"), with each Warrant entitling
the holder to acquire one additional share at a price of
$0.10 until September 21, 2027.
All securities issued in connection with the Financing and the
Warrants are subject to TSX Venture Exchange approval and all
securities will be subject to a four month and one day statutory
hold period expiring on January 22,
2023.
The net proceeds raised through the Financing will be used for
working capital and general corporate purposes, and to pay
outstanding accounts. No finder's fees have been paid in connection
with the Private Placement.
The Company is also pleased to announce that Mr. Anthony Beruschi, B.Sc., LLB has been appointed
a director of the Company upon closing of the Financing.
The Company also announces that, subject to regulatory approval,
it has granted incentive stock options to certain directors,
officers and consultants of the Company to acquire an aggregate of
6,080,000 common shares in the capital of the Company at an
exercise price of $0.075 (the
"Options") in accordance with its 10% rolling Incentive
Stock Option Plan. All Options are fully vested as at the date of
grant and exercisable for a 10-year term expiring September 21, 2032.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre
Agapov, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking statements:
"This press release contains "forward-looking information"
and "forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Rusoro Mining Ltd. in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Rusoro's actual
results, performance and achievements to differ materially from
those expressed or implied by the forward-looking information and
statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. Rusoro
Mining Ltd. disclaims any obligation to update or revise any
forward-looking information or statements except as may be
required."
SOURCE Rusoro Mining Ltd.
