ACCESS Newswire
01 Aug 2020, 03:50 GMT+10
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
REGINA, SK / ACCESSWIRE / July 31, 2020 / ROK Resources Inc. ('ROK' or the 'Company') (TSXV:ROK) is pleased to announce that it has closed its previously announced financing consisting of units of the Company (each a 'Unit') at a price of $0.065 per Unit for total gross proceeds of $500,000.02 (the 'Offering'). Each Unit consisted of a common share in the capital of the Company (each, a 'Common Share') and included one common share purchase warrant (each, a 'Warrant'), with each Warrant exercisable at a price of CDN$0.15 to purchase one Common Share for a period of twenty four (24) months from the date of issuance, such that the Warrants will expire on July 31, 2022. A total of 7,692,308 Units were issued pursuant to the Offering. The Common Shares and Warrants issued pursuant to the Offering are subject to a hold period of four months and a day from the closing date, expiring on December 1, 2020. While the Offering was non-brokered, approximately $13,000 was paid in finders fees and commissions to various brokers who assisted with finding subscribers to the Offering. The Offering remains subject to the final approval of the TSX Venture Exchange. The Offering was made to a small group of strategic investors who are expected to bring future growth to the Company.
The Company expects to use the proceeds from the Offering for general corporate purposes as well as the operation and development of the assets recently acquired in the Glen Ewen area of Southern Saskatchewan pursuant to the Company's June 30, 2020 press release.
About ROK
ROK (previously Petrodorado Energy Ltd.) was previously engaged in petroleum and natural gas exploration and development activities in Colombia and is currently engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the TSX Venture Exchange under the trading symbol 'ROK'.
For further information, please contact:
Cameron Taylor, President and CEO
Lynn Chapman, VP Finance and CFO Phone: (306) 522-0011
Email: [email protected]
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals or future plans with respect to use of proceeds from the Offering and the expectations regarding the receipt of final regulatory approval for the Offering. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
SOURCE: ROK Resources Inc.
Get a daily dose of Canada Standard news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Canada Standard.
More InformationROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...
MOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
(Photo credit: Vincent Carchietta-Imagn Images) Milwaukee Brewers right-hander Freddy Peralta is feeling pretty good as he prepares...
(Photo credit: Rick Scuteri-Imagn Images) The Kansas City Royals are nearing the point in the season where they need to make a sustained...
(Photo credit: Dan Hamilton-Imagn Images) The surging Toronto Blue Jays have won eight straight and 11 of 13 as they begin a three-game...
(Photo credit: Sergio Estrada-Imagn Images) The torrid Houston Astros completed a three-game road sweep of the reigning World Series...
(Photo credit: Rhona Wise-Imagn Images) The Cincinnati Reds return home one last time before the All-Star break and will take on...