Rokmaster upsizes private placement, stock rises

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Rokmaster Resources Corp. [RKR-TSXV; RKMSF-OTC; 1RR-FSE] on Tuesday December 29 said it is upsizing the flow-through portion of a non-brokered financing that was expected to raise up to $8.5 million from the sale of flow-through and non-flow-through units.

Rokmaster is a Vancouver-based mineral exploration company with a portfolio that includes the Duncan Lake zinc-lead project, which is located about 64 km north of Kaslo and 150 km north of Trail, B.C.

The company is also conducting underground drilling at the Revel Ridge polymetallic gold-silver project located 35 km north of Revelstoke, B.C. Revel Ridge is a high-grade gold and polymetallic orogenic sulphide deposit which has been the subject of a preliminary economic assessment report dated December 8, 2020.

In a press released on December 15, 2020, Rokmaster said the flow-through funding would consist of 13.5 million flow-through units, priced at $0.44 each for gross proceeds of $5.93 million. It said each flow-through unit would consist of one flow-through common share, plus one share purchase warrant to purchase one non-flow-through common share of the company at 48 cents per warrant share for a period of two years.

Additionally, the company said the non-flow-through portion will consist of up to 8.02 million non-flow-through units priced at 32 cents each for gross proceeds of up to $2.56 million. Each non-flow-through unit will consist of one common share purchase warrant at 48 cents for a period of two years.

However, on Tuesday the company said that due to heightened investor interest, the company plans to increase the flow-through amount to be raised to up to $6.04 million [up to 13.7 million flow-through units], subject to TSX Venture Exchange approval.

Each flow-through unit will consist of one common share of the company priced at 44 cents and one common share purchase warrant with an exercise price of 48 cents for a period of 24 months from the date of closing of the flow-through unit private placement.

All other terms of the offering as a whole remain as set out in the company’s December 15, 2020 press release.

Rokmaster shares advanced on the news, rising 8.9% or $0.04 to 49 cents on volume of 688,713. The shares are currently trading in a 52-week range of 60 cents and $0.045.


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