Rockland Resources closes $1.08M financing tranche

Executive Summary

• Rockland Resources Ltd. has closed a tranche of its non-brokered private placement, raising $1,088,000 in aggregate gross proceeds.
• The company issued 10.88 million units at a price of $0.10 per unit, with each unit consisting of one common share and one transferable common share purchase warrant.
• Proceeds from the financing will be utilized to advance the Cole gold mines project in Red Lake, Ontario, and for general working capital.

Key Details

• Transaction Structure: Non-brokered private placement tranche.
• Units Issued: 10,880,000 units.
• Price Per Unit: $0.10 CAD.
• Aggregate Gross Proceeds: $1,088,000 CAD.
• Warrant Terms: Each unit includes one transferable common share purchase warrant.
  • Exercise Price: $0.15 CAD per share.
  • Duration: 36 months from the closing date.
• Use of Proceeds: Advancement of the Cole gold mines project in Red Lake, Ontario, and general working capital.
• Insider Participation: A senior officer of the company subscribed for 300,000 units.
• Finders' Fees: $5,800 CAD paid in cash.
• Hold Period: Shares issued are subject to a four-month hold period under applicable Canadian securities laws.
• Future Tranche: The balance of the private placement is expected to close on January 27, 2026.

Notable Quotes

• None provided in the text.