Rocky Shore Gold increases placement to $6-million

Executive Summary

• Rocky Shore Gold Ltd. has upsized its previously announced non-brokered private placement, increasing the aggregate gross proceeds to up to $6 million.
• The company is raising capital through the sale of units at a price of 17.5 cents per unit, with proceeds designated for general corporate purposes and the advancement of the Gold Anchor project in central Newfoundland.
• Each unit consists of one common share and one share purchase warrant, with the warrants exercisable at 30 cents per share for three years post-closing.

Key Details

• Transaction Type: Upsize of non-brokered private placement.
• Aggregate Gross Proceeds: Up to $6 million.
• Price Per Unit: 17.5 cents.
• Unit Composition: Each unit comprises one common share and one share purchase warrant.
• Warrant Terms:
  • Exercise Price: 30 cents per common share.
  • Basis: Non-flow through.
  • Expiration: Three years following the closing date of the offering.
• Use of Proceeds: General corporate purposes and advancement of the Gold Anchor project (located in central Newfoundland).
• Hold Period: Four months and one day from the date of issuance, in accordance with Canadian securities laws.
• Finders' Fees: The company may pay finders' fees and/or issue finders' warrants to eligible finders, subject to Canadian Securities Exchange policies and applicable legislation.
• Legal Adviser: Cassels Brock & Blackwell LLP.

Notable Quotes

• None provided in the text.