Rockhaven Resources Ltd.
CNQ : ROCK

Rockhaven Resources Ltd.

December 13, 2007 19:03 ET

Rockhaven Resources Ltd. Completes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - Rockhaven Resources Ltd. ("Rockhaven" or the "Corporation") (CNQ:ROCK) is pleased to announce that it has completed the private placement (the "Offering") previously announced on November 6 and November 15, 2007. In total, Rockhaven has issued 3,000,000 units ("Units") at a price of $0.50 per Unit for aggregate consideration of $1,500,000 and 5,500,000 flow-through units ("Flow-Through Units") at a purchase price of $0.60 per Flow Through Unit for aggregate consideration of $3,300,000, by way of private placement.

Each Unit consists of one common share in the share capital of Rockhaven ("Common Shares") and one-half of one non-transferable Common Share purchase warrant ("Warrant"). One whole Warrant is exercisable into one Common Share at a price of $0.80 per Common Share until December 13, 2009. Each Flow-Through Unit consists of one Common Share issued on a flow-through basis for Canadian tax purposes ("Flow-Through Share") and one-half of one Warrant exercisable on the same terms as the Warrants that make up the Units.

The Common Shares and Warrants are subject to a four month hold period from the date of issuance. Finder's fees in the amount of $182,500 and non-transferable finder's warrants to purchase 325,000 Common Shares at a price of $0.60 per Common Share until June 13, 2009 was paid to arm's length finders in connection with the Offering.

Rockhaven will use the proceeds of the Offering for exploration and development of the Corporation's mineral properties and for general working capital purposes. The Offering is subject to regulatory approval.

The CNQ has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rockhaven Resources Ltd.
    Richard Graham
    President
    (604) 689-1428
    (604) 681-4692 (FAX)