Rockland Minerals Corp

Published : October 28th, 2014

Rockland Closes Private Placement Financing and Approves New Control Person

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Rockland Closes Private Placement Financing and Approves New Control Person

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.

Read the rest of the article at finance.yahoo.com
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Rockland Minerals Corp

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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.

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Project news of Rockland Minerals Corp
6/30/2011(Schefferville Gold).: Field Mapping Begins at Schefferville Gold Property, Queb...
6/15/2011(Schefferville Gold)Completes Earn-In on Schefferville Gold Property
4/8/2011(Schefferville Gold)Plans Field Mapping, Heli-Borne Mag Survey for Schefferville...
Corporate news of Rockland Minerals Corp
10/28/2014Rockland Closes Private Placement Financing and Approves New...
10/22/2014Rockland Announces Private Placement Financing
5/5/2014Rockland Defines Priority Targets at Schefferville Gold Proj...
4/23/2013.: New Report on Cu-Ni-PGM Expansion at Blue Lake Project, L...
3/25/2013New Cu-Ni-PGM Sulfide Zones Expanding Potential at Blue Lake...
2/19/2013Earns 100% of Retty Lake Cu-Ni-PGM Property, Labrador Trough...
1/29/2013(Schefferville Gold).: Detailed Mag Survey Enhances Targets, Schefferville Gold ...
1/7/2013Drills Strong Cu-Ni-PGM Mineralization at Margins of Blue La...
11/6/2012Intercepts 11 meters of 1.2% Cu, 0.46% Ni, 0.17 g/t Pt and 0...
9/11/2012Drills Strong Platinum-Palladium Values At Blue Lake, Labrad...
6/22/2011Retty Lake Cu-Ni-PGE Drilling Complete
5/31/2011Drills "Net-Texture" Sulfides in Ultramafic Rocks at Retty L...
5/18/2011Commences Drill Program at Retty Lake Cu-Ni-PGE, Quebec
5/5/2011(Schefferville Gold)Launches Detailed Heli-Mag Airborne Survey at Schefferville ...
4/19/2011Provides Retty Lake Cu-Ni-PGM Project Update
3/22/2011Signs Drill Contract for Retty Lake Property, Quebec
3/15/2011Releases Technical Report on Retty Lake Airborne Survey
2/16/2011Retains Top Geoscience Firm in Quebec
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