Rokmaster's Closing of Second Funding Tranche Strengthens Future Exploration
Rokmaster Resources Corp. Completes Final Funding Round
Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) is delighted to announce that it has successfully completed the final tranche of its flow-through financing. This financing initiative is crucial for the company as it enhances its capability to explore and develop its mining properties effectively.
Details of the Financing Transaction
The completed final tranche involved the issuance of 6,400,000 flow-through (FT) units, priced at $0.04 each, leading to gross proceeds amounting to $256,000. With the aggregate funding from this and the initial tranche, Rokmaster has raised a total of $714,000. The first tranche of this flow-through financing, which raised $458,000, was successfully concluded earlier.
Understanding the FT Units
Each FT unit consists of one flow-through common share, along with one-half of a non-transferable non-flow-through share purchase warrant. These warrants grant holders the option to purchase one additional non-flow-through common share at a price of $0.06, thus providing potential for further investment and growth. The expiration for these warrants is set for two years from the date of issue, allowing ample time for strategic planning and execution.
Utilization of Proceeds
The funds raised through this financing are earmarked specifically for Canadian exploration expenses, a strategic move intended to foster growth and exploration within the company's projects. Key allocations include up to $100,000 for prospecting, field expenses, and geological consulting, along with an additional $500,000 designated for drilling operations. Importantly, the company will ensure that no part of these funds will be directed towards investor relations activities.
Regulatory and Governance Considerations
The securities issued from this financing are subject to a standard four-month hold period, concluding on the specified date. This regulatory framework ensures that the interests of all stakeholders are maintained and that the company adheres to established financial guidelines.
Company Leadership Commitment
Under the leadership of John Mirko, President and Chief Executive Officer, Rokmaster Resources Corp. is poised for future growth. The board's commitment to responsibly advancing exploration activities reflects a focus on maximizing the potential of its mineral properties while navigating the complexities of the current market landscape.
Looking Ahead
As Rokmaster Resources progresses with its exploration initiatives, the recent financing considerably strengthens its position in the mineral exploration sector. With the additional capital, the company aims to conduct more extensive and effective exploration activities, further enhancing shareholder value.
Frequently Asked Questions
What is the main focus of Rokmaster Resources Corp.?
Rokmaster focuses on exploring and developing mining properties, particularly in the mineral exploration sector.
How much funding did Rokmaster raise in total from this financing?
The total funds raised from the flow-through financing amount to $714,000, combining the first and final tranches.
What are flow-through shares?
Flow-through shares are a unique investment vehicle allowing companies to pass on exploration costs to investors, granting tax benefits.
How will Rokmaster utilize the proceeds from this financing?
The proceeds will fund Canadian exploration expenses, including geological consulting, prospecting, and drilling activities.
Who is leading Rokmaster Resources Corp.?
John Mirko serves as the President and Chief Executive Officer, guiding the company’s strategic direction.
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