Rolling Rock Resources Corporation: Private Placement Closesadmin
Rolling Rock Resources Corporation has closed a non-brokered private placement (the “Private Placement”) with aggregate gross proceeds of $720,000 from the sale of 4,500,000 units at a price of $0.16 per unit (the “Unit”). Each Unit comprised one flow-through common share and one-half of one non-transferable common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder thereof to purchase an additional common share for a price of $0.45 per share until July 17, 2009. The common shares issued, and any common shares issued pursuant to the exercise of Warrants prior to November 18, 2008 will be restricted from trading until November 18, 2008.
The Company paid a finder’s fee by the issue of 300,000 common shares.
The MineralFields Group purchased $480,000 of this Private Placement with one other party purchasing the remaining $240,000.
“We are very pleased to be entering into this relationship with MineralFields Group,” said Scott Angus, President and CEO of the Company. “This is an important milestone in the growth of Rolling Rock Resources Corporation and we look forward to working with MineralFields Group as we explore our Domain property in northern Manitoba.”
Proceeds of this Private Placement will be used primarily for continued exploration of the Company’s Domain property.
About MineralFields, Pathway and First Canadian Securities®
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.
Contacts: Rolling Rock Resources Corporation Scott Angus
Source: Rolling Rock Resources Corporation