Rockland Resources Arranges Financing

Executive Summary

• Rockland Resources Ltd. completed a non‑brokered private placement of 7.5 million units at $0.08 per unit, generating gross proceeds of $600,000.
• Each unit consists of one common share and one transferable warrant; the warrant allows purchase of an additional share for $0.12 within 48 months after closing.
• Net proceeds will be used to advance the Cole Gold Mines project in Red Lake, Ontario and for general working capital.

Key Details

• Units offered: 7,500,000 units @ $0.08 per unit → $600,000 gross proceeds.
• Unit composition: 1 common share + 1 transferable Share purchase warrant.
• Warrant terms: Right to buy one additional share at an exercise price of $0.12 per share, exercisable for a 48‑month period after the closing date.
• Hold period: Shares issued are subject to a four‑month hold period under Canadian securities law.
• Use of proceeds: Primarily to fund exploration and development activities at the Cole Gold Mines project (Red Lake, Ontario); remainder for general working capital.
• Finders’ fees: May be payable in accordance with CSE policies.
• Issuer contact: Mike England, CEO & Director – email: [email protected]

Notable Quotes

(No direct quotes were provided in the release.)