Rockland's $600,000 placement now fully subscribed

Executive Summary

• Rockland Resources Ltd. has fully subscribed to its previously announced non-brokered private placement of 7.5 million units.
• The financing generated aggregate gross proceeds of $600,000, with each unit priced at $0.08.
• Net proceeds 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 of 7.5 million units.
• Price: $0.08 per unit.
• Gross Proceeds: $600,000.
• Unit Composition: Each unit consists of one common share and one transferable share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one warrant share.
  • Exercise price: $0.12 per share.
  • Duration: 48-month period after the closing date.
• Use of Proceeds: Advancement of the Cole Gold Mines project (Red Lake, Ont.) and general working capital.
• Hold Period: Shares issued are subject to a four-month hold period under applicable Canadian securities laws.
• Fees: Finders' fees are payable, subject to Canadian Securities Exchange policies.

Notable Quotes

• None provided in the text.