July 23, 2020 – Rockhaven Resources Ltd.. (TSX-V: RK) (“Rockhaven” or the “Company”) announces a non-brokered private placement (the “Offering”) to raise gross proceeds of up to $5,000,000.
The private placement will consist of the sale of up to 17,543,860 flow-through units at a price of $0.285 each to raise gross proceeds of up to $5,000,000.Each flow-through unit will consist of one flow-through common share and one-half (1/2) of one common share purchase warrant, with each whole warrant to entitle the holder to purchase one non-flow-through common share at a price of $0.29 for a period of 24 months following the closing of the Offering.
The proceeds from the Offering will be used primarily to fund exploration activities at Rockhaven’s Klaza property in the Yukon. The gross proceeds raised from the issuance of flow-through units will be used for “Canadian exploration expenses” and will qualify as “flow-through mining expenditures” as defined in the Income Tax Act (Canada), with those gross proceeds to be renounced to the initial purchasers of the flow-through units with an effective date no later than December 31, 2020.
The Company may pay finders’ fees or brokers’ commissions in respect of the Offering in accordance with TSX Venture Exchange policies.
The Offering is scheduled to close on or about August 20, 2020 and is subject to certain conditions including, but not limited to, the receipt of TSX Venture Exchange acceptance.All securities issued pursuant to the Offering will be subject to a hold period in Canada of four months plus one day from closing.
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.
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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