NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
June 29, 2016 - Rockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) announces that it has closed the final tranche of the private placement announced on May 18, 2016.Closing consisted of the issuance of:
- 2,755,000 flow-through units at $0.20 per unit, for total consideration of $551,000; and
- 1,031,000 non-flow-through units at $0.17 per unit, for total consideration of $175,270.
Each flow-through unit consisted of one flow-through common share and one-half (1/2) of a non-flow-through share purchase warrant, and each non-flow-through unit consisted of one non-flow-through common share and one-half (1/2) of a non-flow-through share purchase warrant.Each full warrant from either the flow-through or the non-flow-through units entitles the holder to purchase one additional non-flow-through common share at a price of $0.25 until December 23, 2017, provided that in the event the closing price of Rockhaven’s common shares as traded on the TSX Venture Exchange is equal to or greater than $0.35 for a period of ten (10) consecutive trading days subsequent to October 24, 2016, Rockhaven may give notice of an earlier expiry of the warrants, in which case the warrants would expire thirty (30) calendar days from the giving of such notice.
Rockhaven paid cash finders’ fees totaling $36,527.40 and issued a total of 186,445 finder warrants in connection with the closing, distributed among Haywood Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., Odlum Brown Limited and TD Wealth.Each finder warrant has the same terms and conditions as the warrants forming part of the flow-through units and the non-flow-through units disclosed above.
All of the securities issued pursuant to this private placement, including any shares issued pursuant to the exercise of any of the share purchase warrants disclosed herein, will be subject to a four month hold period expiring on October 24, 2016.
As a result of the closing of this final tranche, Rockhaven has raised the entire $2,515,000 referred to in its May 18, 2016 news release, consisting of the sale of all 8,750,000 flow-through units at $0.20 each and all 4,500,000 non-flow-through units at $0.17 each.
Rockhaven Resources Ltd. is a mineral exploration company focused on growth through the advancement of its Klaza project.For additional information concerning Rockhaven or its Klaza project please visit Rockhaven’s website at www.rockhavenresources.com.
President, CEO and Director
Rockhaven Resources Ltd.
This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States or to a U.S. person absent registration or an applicable exemption from U.S. registration requirements. “United States” and “U.S. person” have the respective meanings assigned in Regulation S under the U.S. Securities Act.
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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