Rocky Shore Gold arranges $5-million private placement

Executive Summary

• Rocky Shore Gold Ltd. announced a non-brokered private placement to raise up to $5 million in gross proceeds.
• The offering consists of units priced at 17.5 cents per unit, with each unit comprising one common share and one share purchase warrant.
• Proceeds are designated for general corporate purposes and the advancement of the company's Gold Anchor project in central Newfoundland.

Key Details

• Gross Proceeds: Up to $5,000,000.
• Price Per Unit: 17.5 cents.
• Unit Composition: Each unit includes one common share and one share purchase warrant.
• Warrant Terms:
  • Exercise Price: 30 cents per common share.
  • Issuance 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, per Canadian securities laws.
• Insider Participation:
  • Northfield Capital Corp. and its president/CEO, Robert Cudney, intend to participate.
  • Expected acquisition: Up to 5,714,285 units.
  • Purchase price for insider portion: Up to $1,000,000.
  • Transaction classified as a related party transaction; exemptions from formal valuation and minority shareholder approval are anticipated as the value is not expected to exceed 25% of market capitalization.
• Advisers:
  • Legal Adviser: Cassels Brock & Blackwell LLP.
  • Finders: The company may pay finders' fees and/or issue finders' warrants to eligible finders.

Notable Quotes

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