Rocky Shore Gold's Non-Brokered Private Placement
Rocky Shore Gold Ltd. (“Rocky Shore” or the “Company”) (CNSX: RSG.CN) is embarking on an exciting venture to initiate a private placement aimed at securing up to $1,500,000 in gross proceeds. This funding will be generated through the sale of units and flow-through shares, both priced at $0.05. Such strategic funding methods are pivotal for advancing the Company's objectives and long-term goals.
Details of the Offering
Each unit in this offering is structured to include one Common Share and half a share purchase warrant, enabling investors to acquire a whole Common Share at an exercise price of $0.10. This exercise option remains available for three years following the offering's closing date, subject to certain conditions that could accelerate this period if market conditions are favorable. If share prices reach $0.20 or higher for a sustained timeframe, Rocky Shore plans to notify warrant holders promptly.
Utilization of Proceeds
The funds acquired from this private placement aim to support various corporate initiatives. Specifically, the proceeds allocated from the sale of flow-through shares will focus on advancing the exploration efforts related to the Company’s notable Gold Anchor Project. This ambitious project is currently garnering considerable attention due to its potential for significant gold discoveries.
Participation and Securities Regulations
In an interesting twist, insiders of Rocky Shore may also partake in this offering. This involvement would classify as a related party transaction under Canadian regulations. Still, the Company doesn’t anticipate any related party transactions will surpass 25% of its total market capitalization, enabling it to qualify for exemptions from certain valuation and approval requirements.
Comments from Leadership
Ken Lapierre, President and CEO of Rocky Shore, has expressed enthusiasm regarding their upcoming fall drilling program at the Lane Pond Gold Target. This target is a paramount location within the Company’s 100%-owned Gold Anchor Project. Spanning over 11 kilometers and adjacent to substantial gold discoveries, the Lane Pond Gold Target represents an unexplored opportunity that the Company aims to tap into. Initiatives like further sampling and geophysical surveys are underway to pinpoint priority areas for drilling, with funding from this offering set to facilitate up to 5,000 meters of drilling in near-surface areas. Ken believes these efforts will unlock the potential of the Lane Pond Gold Target significantly.
About Rocky Shore Gold Ltd.
Rocky Shore Gold is an ambitious exploration entity focused on major gold discoveries through its Gold Anchor Project, located in one of Canada's most prospective underexplored regions. With a sprawling area exceeding 1,200 square kilometers, the project is strategically positioned near significant gold deposits and major fault lines like the Appleton and JBP Faults. This geographical advantage heightens the chances of substantial mineral findings.
Contact Information
For additional inquiries, please reach out to:
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 private placement?
The private placement aims to raise funds to support general corporate purposes and advance the exploration of Rocky Shore's Gold Anchor Project.
Who can participate in the offering?
Insiders of Rocky Shore Gold may participate in the offering, categorized as a related party transaction under Canadian securities laws.
What is the significance of the Lane Pond Gold Target?
The Lane Pond Gold Target is a key feature of the Gold Anchor Project, representing unexplored potential for significant gold deposits situated within a high-potential mining corridor.
How will the funds from the offering be used?
Funds will primarily be utilized for general corporate developments and specifically for advancing exploration initiatives at the Gold Anchor Project.
What are the potential risks associated with this offering?
Investing in exploration projects carries inherent risks, including fluctuations in commodity prices, regulatory changes, and uncertainties unique to mineral exploration.
