Rockgate Capital Corp.
TSX : RGT

Rockgate Capital Corp.

September 16, 2010 12:34 ET

Rockgate Completes $6.5 Million Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Rockgate Capital Corp. (TSX:RGT) (the "Company") is pleased to announce that effective September 16, 2010 it has closed a brokered private placement with a syndicate of agents led by Dundee Securities Corporation and including GMP Securities L.P. and Raymond James Ltd. (the "Agents") for the sale of 10,000,000 units (the "Units") at a price of $0.65 per Unit for gross proceeds of $6,500,000. Each Unit is comprised of one common share and one-half of one non- transferable common share purchase warrant. Each full warrant is exercisable into one common share for a period of two years after the Closing Date at a price of $0.80 in the first year and $0.90 in the second year.

Karl Kottmeier, Rockgate's President and CEO, commented, "We are pleased to have added these funds to our working capital at this time. We anticipate that another aggressive development and exploration drilling program at Falea will commence in Q4 of this year with two diamond drill rigs. Additionally, we have commenced advanced engineering, metallurgical, environmental and process studies with a view to increasing the value of the resource at Falea for the benefit of all shareholders."

The securities issued in conjunction with the private placement are subject to a four month hold period from the date of closing. The Company intends to use the net proceeds for exploration and development of the Falea Property in Mali and for general working capital purposes.

ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKGATE CAPITAL CORP.

Karl Kottmeier, President

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

Contact Information