Northrock Resources Inc.
TSX VENTURE : NRK

September 27, 2011 17:26 ET

Northrock Announces Private Placement to Raise $1,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Northrock Resources Inc. (TSX VENTURE:NRK) (the "Company") is pleased to announces that it has arranged a non-brokered private placement of up to 8,000,000 units (the "Units") at a price of $0.125 per unit for aggregate proceeds of up to $1,000,000.

Each Unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the purchaser to purchase an additional common share at a price of $0.165 per share for a period of twelve months following the closing of the offering. The net proceeds of the financing will be used to provide general working capital.

Shares acquired by the placees, and shares which may be acquired upon the exercise of the share purchase warrants, will be subject to a hold period of four months plus one day from the date of closing of the offering in accordance with applicable securities legislation. The financing is subject to the approval of the TSX Venture Exchange.

The Company also announces that it has set 690,000 has granted stock options to purchase 690,000 shares, with an exercise price of 17 cents to directors, officers, and certain employees and consultants of Northrock. These stock options expire on September 27, 2016, and are subject to the terms and conditions of the company's stock option plan. The grant of stock options is subject to any required regulatory and shareholder approvals.

ON BEHALF OF THE BOARD OF DIRECTORS OF NORTHROCK RESOURCES INC.

Karl Kottmeier, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Northrock Resources Inc.
    Kirk Gamley
    Vice President - Corporate Development
    (604) 678-8941
    (604) 689-7442 (FAX)