| Rockland Closes Private Placement Financing and Approves New Control Person | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 28, 2014) - Rockland Minerals Corp. (the "Company" or "Rockland"), (TSX VENTURE:RL) announces that it has completed its non-brokered private placement financing for gross proceeds of $850,000 through the sale of17 million flow-through units of the Company ("FT Unit"), at $0.05 per FT Unit, with each FT Unit consisting of one (1) Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) and one-half of one (1) non-transferrable Warrant. Each whole Warrant will be exercisable at $0.10 into one (1) additional common share for a period of 12 months. The offering was originally announced on October 22nd. The offering was fully subscribed. Shareholders holding more than 50% of common shares of Rockland Minerals approved Mr. Ned Goodman as a "Control Person" (as defined by the policies of the TSX Venture Exchange) by way of consent resolution. Mr. Ned Goodman subscribed for $700,000 or 14,000,000 Units of the offering. Mr. Goodman's common share position equates to 23.27% on an undiluted basis and 30.58% on a diluted basis. All of the securities issued pursuant to the second tranche will be subject to a securities law hold period of 4 months and a day ending on March 1, 2015. A finder's fee of either cash and/or common shares and warrants ("Finder's Warrants") up to 8% was paid in connection with the private placement offering. Each Finder's Warrant entitles the finder to purchase a non-flow-through common share at a price of $0.10 per share for a period of 12 months. Rockland intends to use the proceeds from the Private Placement for its exploration on its Quebec mineral exploration properties. The Private Placement is subject to approval from the TSX Venture Exchange. On behalf of the Board of Directors Rav Mlait President and CEO Rockland Minerals Corp. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Rockland Minerals Corp
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EXPLORATION STAGE |
CODE : RL.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Rockland Minerals is a exploration company based in Canada. Its main exploration property is SCHEFFERVILLE GOLD in Canada. Rockland Minerals is listed in Canada. Its market capitalisation is CA$ 5.5 millions as of today (US$ 4.2 millions, € 3.9 millions). Its stock quote reached its highest recent level on October 01, 2010 at CA$ 0.23, and its lowest recent point on April 15, 2016 at CA$ 0.01. Rockland Minerals has 68 500 000 shares outstanding. |