VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 21, 2014) - Rogue Resources Inc. (TSX VENTURE:RRS) ("Rogue" or the "Company") is pleased to announce that the terms of the agreement, subject to certain terms and conditions, to acquire the Lac de la Grosse Femelle Silica Property (the "Femelle Property") located approximately 95 kilometers northeast of Québec City have been renegotiated.
In consideration of reducing the issuance of shares from 20 million to 8.5 million shares and a reduction of a closing minimum of the Offering to $1.75 million from $2.0 million as announced in a press release dated July 30, 2014, the Company has agreed to relinquish its interest in the Kipawa Claims which were included as part of the original agreement announced on July 30, 2014. For clarification, the Kipawa Claims are independent from the Femelle Property and there has been no modification to the claim package being acquired within the Femelle Property. No finder's fees are payable on the acquisition and the party is at arm's length to the Company. Closing is subject to completion of a minimum $1.75 million of the financing announced July 30, 2014, TSX Venture Exchange approval and certain other customary closing conditions. The anticipated closing date for the financing is August 26, 2014.
ON BEHALF OF THE BOARD OF DIRECTORS
John de Jong, CEO & President
Neither the 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 news release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, the purchase of the Lac de la Grosse Femmelle property, the identification of corporate objectives, together with related additional assumptions and risks, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and the Company's planned and ongoing exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.