Rocky Shore Gold Completes Second Private Placement Tranche
Rocky Shore Gold Ltd. (CSE:RSG) has recently closed the second tranche of its non-brokered private placement, raising an impressive $1,299,000. This funding is vital for the company's ongoing exploration initiatives at its Gold Anchor Project, which is crucial for its plans to unearth significant gold discoveries.
Details on the Fundraising
Under this second tranche agreement, Rocky Shore issued a total of 17,980,000 units at a price of C$0.05 each. Each unit consists of one common share and one-half of a common share purchase warrant. Additionally, the company issued 8,000,000 flow-through shares, also priced at C$0.05 each. This financing reflects the strong interest and confidence in the company’s strategic direction.
Warrants and Expiry Terms
The warrants give holders the right to purchase additional common shares at C$0.10 until September 25, 2028. Interestingly, if the common shares trade at or above C$0.20 for 20 consecutive days, the company can accelerate the expiry of these warrants, providing a potentially significant opportunity for early investors.
Use of Proceeds
Funds acquired from this tranche will primarily focus on general corporate purposes alongside specific enhancements to the Gold Anchor Project. This funding is crucial for advancing exploration activities, particularly as Rocky Shore continues to navigate the promising gold ground located in central Newfoundland. This project is notable for being one of the largest in an underexplored gold district.
Finders' Fees and Warrant Issuances
As part of this closing, cash finder’s fees were paid, and an aggregate of 1,192,800 finder's warrants were issued to eligible finders. These finder's warrants will be exercisable at a price of $0.05 per share until March 25, 2027, incentivizing those who support the company’s growth journey.
Insider Participation
Insiders of Rocky Shore Gold participated in the second tranche, acquiring 500,000 units and 200,000 flow-through shares, showing a committed investment in the company. This activity constitutes a related party transaction as defined under the relevant instruments, yet it falls under exemptions from specific formal valuation requirements.
About Rocky Shore Gold Ltd.
Rocky Shore Gold is dedicated to exploring and developing its wholly-owned Gold Anchor Project, strategically positioned in Newfoundland. This project spans over 1,200 square kilometers and is positioned on the trend of significant gold discoveries. The presence of highly prospective faults, such as the Appleton and JBP Faults, underscores the project’s potential.
Support and Acknowledgment
The company expresses gratitude for the financial support provided by the 2025 Junior Exploration Assistance Program from the Department of Natural Resources. This support enables enhanced exploration efforts and better positioning in the competitive mining sector.
Key Contacts
For any inquiries or further information:
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 proceeds will be used for general corporate purposes and to advance exploration at the Gold Anchor Project.
How many units were issued in this private placement?
The second tranche involved the issuance of 17,980,000 units and 8,000,000 flow-through shares.
What are the terms of the warrants?
The warrants allow holders to purchase additional common shares at C$0.10 until September 25, 2028, with potential early expiry conditions.
Who can be contacted for more information?
For inquiries, you can reach out to Ken Lapierre or Cathy Hume via their provided contact details.
What is Rocky Shore Gold's main project?
Rocky Shore Gold is focused on the Gold Anchor Project, located in central Newfoundland, which is known for its significant gold potential.
