Vancouver, British Columbia, February 23, 2022: Rockland Resources Ltd. (the “Company” or “Rockland”) (CSE: RKL) is pleased to announce that further to its press release dated November 16, 2021, the Company has closed the non-brokered private placement. The Company issued 6,530,000 units (the “Units”) at a price of $0.20 per Unit for aggregate gross proceeds of $1,306,000. Each Unit is comprised of one common share (“Share”) and one half of one transferable common share purchase warrant of the Company (“Warrant”). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.30 per share.
Proceeds raised will be used for advancing the Company’s Cole Gold Mines property in Red Lake and the Elektra Lithium property in Sonora, Mexico as well as for general working capital.
Finders’ fees of $30,520 cash and 152,600 finders’ warrants were paid to arm’s length parties.
Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the properties. In addition to the Cole Gold Property, Rockland is exploring the Summit Old Timer Property that consists of three (3) mineral claims covering an area of 1,915 hectares located approximately 17 km southeast of the City of Nelson, within the Nelson Mining Division, British Columbia. The company also has the Stetham Uranium property in Ontario and the Elektra Lithium property in Sonora, Mexico.
On Behalf of the Board of Directors
Mike England
CEO, President and Director
For further information, please contact:
Mike England
Email: [email protected]
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Original Article: https://www.rocklandresources.com/20220223-rockland-resources-closes-private-placement
