Rocky Shore Gold Advances Growth with New Funding Milestone
Rocky Shore Gold Completes New Funding Round
Rocky Shore Gold Ltd. is excited to share news about its recent success in closing the second tranche of a non-brokered private placement. This funding initiative, which is crucial for the company, is set to bolster its operations and investment in the Gold Anchor Project.
Details of the Second Tranche
In this recent funding round, the company raised an impressive total of $1,299,000. This amount was generated through the issuance of 17,980,000 units, each priced at C$0.05. Each unit comprises one common share along with half a common share purchase warrant. Additionally, Rocky Shore issued 8,000,000 common shares that qualify as flow-through shares, which are also priced at C$0.05.
Each warrant gives its holder the right to purchase an additional common share at an exercise price of C$0.10, valid until September 2028. Notably, if the common shares trade at or above C$0.20 for twenty consecutive days, the company can accelerate the exercise period.
Purpose of the Proceeds
The funds generated from this placement will support various corporate initiatives, including exploration and advancement activities related to the Gold Anchor Project, which remains a key focus for the company.
Financial Incentives for Finders
As part of the successful closure of this funding round, Rocky Shore Gold also compensated eligible finders by paying cash finder’s fees and issuing a total of 1,192,800 finder’s warrants. Each of these warrants is priced at $0.05 per share and is valid until March 2027, incentivizing finders for their assistance in driving interest in the placement.
Insider Contributions to the Tranche
Interestingly, insiders of Rocky Shore Gold participated in this tranche by acquiring 500,000 units and 200,000 flow-through shares amounting to approximately $35,000. This insider involvement is noteworthy as it reflects confidence in the company’s direction, classified as a related party transaction under current regulations, yet qualifies for exemptions from certain approval requirements.
About Rocky Shore Gold Ltd.
Rocky Shore Gold is a notable Canadian exploration company with a keen focus on discovering major gold deposits in its wholly owned Gold Anchor Project. This project is considered one of the most promising and underexplored regions in Newfoundland, spanning over 1,200 square kilometers. The site is strategically positioned in relation to significant gold discoveries, with active exploration ongoing.
Exploration Potentials and Future Plans
As Rocky Shore continues to move forward, the company aims to leverage the exploration potential within the Gold Anchor Project. The area is recognized for its numerous gold-bearing faults, including the promising Appleton and JBP Faults. The proactive approach to development aligns well with current industry trends and insights.
Contact Information
For those interested in learning more about Rocky Shore Gold and its projects, the company encourages direct communication:
Ken Lapierre, President & CEO
Rocky Shore Gold Ltd.
T: +1 (647) 678-3879
E: ken@rockyshoregold.com
Cathy Hume, CEO
CHF Capital Markets
T: +1 (416) 868-1079 x 251
E: cathy@chfir.com
Frequently Asked Questions
What is the purpose of the second tranche funding?
The funds will be used for general corporate purposes and to explore and advance the Gold Anchor Project.
How much was raised in the second tranche?
Rocky Shore Gold raised a total of $1,299,000 in this funding round.
What is included in a unit of the private placement?
Each unit consists of one common share and a half common share purchase warrant.
What happens if the common shares exceed C$0.20?
The company has the right to accelerate the exercise period of the warrants if the share price exceeds C$0.20 for twenty consecutive days.
Who can be contacted for more information about Rocky Shore Gold?
Interested parties can reach out to Ken Lapierre or Cathy Hume via the provided contact information.
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