Rocky Shore closes second tranche of financing

Executive Summary

• Rocky Shore Gold Ltd. has closed the second tranche of its non-brokered private placement, raising aggregate gross proceeds of $1,299,000.
• The company issued 17.98 million units and 8 million flow-through shares at an issue price of $0.05 per security.
• Proceeds are designated for general corporate purposes (units) and the exploration/advancement of the Gold Anchor project (flow-through shares).

Key Details

• Gross Proceeds: $1,299,000.
• Units Issued: 17,980,000 units at $0.05 per unit.
  • Each unit consists of one common share and one-half of one common share purchase warrant.
  • Warrants entitle holders to acquire one additional common share (non-flow-through) at an exercise price of $0.10.
  • Warrant expiry: September 25, 2028.
  • Acceleration clause: If shares trade at or above $0.20 for 20 consecutive days, the company may accelerate the exercise period to end at least 30 days after notice.
• Flow-Through (FT) Shares Issued: 8,000,000 FT shares at $0.05 per share.
  • Proceeds from FT shares specifically for the exploration and advancement of the Gold Anchor project.
• Use of Proceeds (Units): General corporate purposes.
• Finder’s Fees:
  • Cash fees paid to eligible finders.
  • 1,192,800 finders' warrants issued.
  • Finder's warrant exercise price: $0.05 per share.
  • Finder's warrant expiry: March 25, 2027.
• Insider Participation:
  • Insiders acquired 500,000 units and 200,000 FT shares.
  • Total insider subscription value: approximately $35,000.
  • Transaction exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
• Hold Period: All securities subject to a statutory hold period expiring January 26, 2026.

Notable Quotes

• None provided in the text.