VANCOUVER, April 30, 2020 /CNW/ - Rover Metals Corp.
(TSXV: ROVR) (OTCQB: ROVMF) ("Rover Metals" or the
"Company") announces that further to its press release of
April 10, 2019, the Company has made
the decision to cancel its non-binding letter of intent to acquire
100% of the Toquima silver project in central Nevada, USA (the "Original LOI"). Rover Metals
has entered into a new non-binding letter of intent (the "New LOI")
with the same vendor of the Toquima Property (the "Vendor") to
acquire one or more gold-dominant exploration
projects, subject to due diligence. The Company is currently
reviewing several gold projects in Utah, Arizona, and Nevada advanced by the Vendor. Conditional
upon positive due diligence, it is the Company's intention to
complete a transaction to acquire 100% interest in one or more of
these U.S.-based gold projects. Certain cash payments advanced
under the Original LOI will be paid back to Rover Metals under the
New LOI.
Concurrent Financing Now Closed
Further to its November 19, 2019,
Press Release, Rover Metals closed its $0.06 Unit Private Placement Financing on
April 24, 2020. The Company raised a
total of $420,685.08 under three
closings ($50,000.02 closing on
April 24, 2020; $64,699.98 closing on January 29, 2020; and $305,985.06 closing on August 29, 2019). Pursuant to the terms of the
financing, the Company issued a total of 7,011,418 units under the
financing. Each unit is comprised of one common share and one
common share purchase warrant. Each warrant has a five-year life
and an exercise price of $0.12 per
warrant. There is an acceleration clause in place on 1,911,667 of
the warrants if the Company's shares trade at $0.15 per share for five consecutive trading
days.
Resumption of Trading
Trading in the Company's common shares will resume shortly upon
the TSXV issuing their resumption to trade bulletin.
About Rover Metals
Rover Metals is a natural resource exploration company
specialized in North American precious metal resources, that is
currently advancing the gold potential of its existing
projects.
You can follow Rover Metals on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news.
https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
"Judson
Culter"
Chief Executive Officer and Director
Statement Regarding Forward-Looking Information
This news release contains statements that constitute
"forward-looking statements." Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Rover's actual results, performance or achievements,
or developments in the industry to differ materially from the
anticipated results, performance or achievements expressed or
implied by such 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. There
can be no assurance that such statements will prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to
place undue reliance on these forward-looking statements. Any
factor could cause actual results to differ materially from Rover's
expectations. Rover undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS
RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE
OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER
SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO,
IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR
TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS
RELEASE.
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SOURCE Rover Metals Corp.