NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESMay 12, 2011 - Rockhaven Resources Ltd.
(TSX-V:RK) (“Rockhaven” or the “Company”) is pleased to announce the closing of the $6,000,000 private placement announced by News Release dated April 28, 2011, consisting of the sale of 5,000,000 common shares at a price of $1.20 per share.
In connection with the closing of this private placement, Rockhaven has paid $56,250 in cash and issued the following securities in payment of finders’ fees:
(a) 203,125 finders’ shares; and
(b) 250,000 finders’ warrants, each entitling the holder to purchase one common share at a price of $1.45 until May 12, 2012.
All of the securities issued in connection with the closing of this private placement, including the securities issued in payment of finders’ fees, are subject to a hold period in Canada until September 13, 2011.
The proceeds from this private placement will be used to finance 2011 exploration activities on Rockhaven’s Yukon mineral projects, and for working capital purposes.
Rockhaven also announces that Tocqueville Asset Management, L.P. (“Tocqueville”), on behalf of one or more investment funds and managed accounts (collectively, the “Accounts”), acquired ownership of all of the 5,000,000 common shares issued pursuant to this private placement. As a result of the purchase of these shares, Tocqueville, on behalf of one or more Accounts, now has authority to exercise control or direction over 5,000,000 common shares of Rockhaven, representing 10.86% of the 46,040,648 common shares of Rockhaven currently issued and outstanding. Tocqueville is a New York-based investment management firm.
For additional information concerning Rockhaven Resources Ltd. or its wholly owned Klaza project please visit the Company’s website at www.rockhavenresources.com
Matthew Turner, CEORockhaven Resources Ltd.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 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. CAUTIONARY NOTE:
This news release includes certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Rockhaven are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Rockhaven are those risks described herein and from time to time, in the filings made by Rockhaven with Canadian securities regulators. Those filings can be found on the Internet athttp://www.sedar.com
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