Rockland arranges $180,000 private placement

Executive Summary

• Rockland Resources Ltd. completed a non-brokered private placement of 3 million units at $0.06 per unit, raising $180,000 in gross proceeds.
• The proceeds are designated for advancing the Cole gold mine project in Red Lake, Ontario, and for general working capital.
• The transaction includes the issuance of transferable warrants and stock options to directors, officers, and consultants.

Key Details

• Financing Structure: Non-brokered private placement of 3,000,000 units.
• Price: $0.06 per unit.
• Gross Proceeds: $180,000.
• Unit Composition: Each unit consists of one common share and one transferable share purchase warrant.
• Warrant Terms: Each warrant allows the purchase of one warrant share at an exercise price of $0.10 per share, exercisable for a 36-month period following the closing date.
• Use of Proceeds: Advancement of the Cole gold mine project (Red Lake, Ont.) and general working capital.
• Hold Period: Shares issued are subject to a four-month hold period under Canadian securities laws.
• Finders' Fees: Payable subject to Canadian Securities Exchange policies.
• Stock Options: 750,000 options granted to directors, officers, and consultants at an exercise price of $0.08 for a three-year term.

Notable Quotes

• None provided in the text.