pcJ News Briefs – Rockridge Gold Ltd. (TSX-V: ROCK) has completed its proposed initial public offering (IPO), issuing 4,000,000 common shares at a price of $0.20 per share for gross proceeds of $800,000.
Rockridge Gold’s common shares are expected to commence trading on the TSX Venture Exchange on or about December 14, 2017.
Canaccord Genuity Corp. acted as exclusive agent in respect of the offering. AFG Law LLP and Miller Thomson LLP acted as legal counsels to Rockridge and the agent respectively.
Immediately following the closing of the offering, Rockridge will have 12,500,001 common shares issued and outstanding.
photo credit: Rockridge Gold Ltd.
ROCKRIDGE COMPLETES OVERSUBSCRIBED IPO AND ANNOUNCES LISTING ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL “ROCK”
Vancouver, BC – Rockridge Gold Ltd. (TSX-V: ROCK) (the “Company”) is pleased to announce that it has completed its initial public offering (“IPO”) of 4,000,000 common shares, at a price of $0.20 per share (the “Issue Price”), for aggregate gross proceeds of $800,000. The TSX Venture Exchange (the “TSXV”) has accepted the Company’s listing application as of December 11, 2017 (the “Listing Date”) and the Company’s common shares (the “Shares”) are expected to commence trading on the TSXV on or about December 14, 2017 under the trading symbol “ROCK”.
Canaccord Genuity Corp. (the “Agent”) acted as exclusive agent in respect of the IPO on a commercially reasonable efforts basis. The IPO consisted of the distribution of 4,000,000 Shares at the Issue Price under the base offering, as well as the exercise in part of the Agent’s option to sell up to an additional 400,000 Shares at the Issue Price, for an aggregate of 4,201,000 Shares subscribed for at the Issue Price under the IPO. Pursuant to the IPO, the Agent received a cash commission and an aggregate of 294,070 non-transferable common share purchase warrants (the “Agent’s Warrants”) entitling the Agent and members of its selling group to purchase 294,070 Shares at the Issue Price per Share at any time until December 12, 2019. The Agent also received a corporate finance fee.
The net proceeds of the IPO will primarily be used to fund the acquisition of and exploration expenditures on the mineral claims in the Raney Township, Porcupine Mining District in the Province of Ontario (the “Raney Property”) which the Company has under option from 1082545 B.C. Ltd., as well as general and administrative costs for the next twelve months, and for general working capital requirements.
As a result of the closing of the IPO, the Company now has 12,701,001 Shares issued and outstanding, of which 4,500,001 Shares are subject to escrow, to be released 10% on the Listing Date with an additional 15% released every six months over a 36-month period.
Additional information on the Company, the IPO and the Raney Property, can be found in the Company’s amended and restated final long form prospectus dated September 13, 2017 as filed on SEDAR at www.sedar.com.
About Rockridge Gold Ltd.:
Rockridge is a new public mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada. The Company’s first project and its core asset is the Raney Property located in Raney Township, Porcupine Mining District, Ontario, on which it has an option to acquire a 100% interest and title to.
For more information, please contact:
Jordan Trimble, Chief Executive Officer
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