VANCOUVER, BC--(Marketwired - July 26, 2016) -
- Second tranche of Private Placement closes, completing the $880,000 financing
- Shares sold to long-term Rogue shareholders, not traditional Flow-Through funds
Rogue Resources Inc. (TSX VENTURE: RRS) ("Rogue" or the "Company") is pleased to report that on Monday, July 25th it completed the non-brokered private placement of Flow-Through Units (the "FT Units"), launched on July 13th, raising a total of $880,000. The FT Units were priced at $0.10 and include a non-transferable common share purchase warrant which will entitle the holder to purchase one common share at an exercise price of $0.12 until July 18, 2018. Compensation was paid as to $30,800 in cash, 513,333 compensation shares and 616,000 compensation warrants. The shares issued in this financing are subject to a four month hold period expiring November 23, 2016. The majority of the financing was placed by Brandon Munday / REDPLUG Capital with long term Rogue shareholders.
Full details of the private placement can be found in Rogue's July 13, 2016 news release.
"This financing is validation of the support we have from our existing shareholder base," said Sean Samson, President and CEO of Rogue Resources. "These shareholders follow the Company closely, recognize the work we are putting into de-risk Silicon Ridge and they see Rogue as a continued opportunity to buy a stake in a great Company, before the broader market begins to realize it."
About Rogue Resources Inc.
Rogue is a mining company focused on generating positive cash flow. Not tied to any metal, it looks at rock value and good grade deposits that can withstand all stages of the metal price cycle. The current focus is Quebec's Silicon Ridge Project. For more information visit www.rogueresources.ca.
The Silicon Ridge Exploration Project is under the direct supervision of Eddy Canova, P.Geo. (OGQ), and Senior Vice President of the Company, a Qualified Person ("QP") as defined by National Instrument 43-101, assisted by Paul Davis, P.Geo., Technical Consultant to the Company and also a QP as defined by National Instrument 43-101. Both QPs have approved the scientific and technical content of this release.
On Behalf of Rogue Resources Inc.
President & CEO, Director
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 disclosures in this release may 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 that the Company's capable of raising additional capital, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results 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, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Should any of such assumptions prove to be incorrect or such risks become actual events, than the value of the Company's securities may decline. 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.2