VANCOUVER, March 4, 2019 /CNW/ - Rover Metals Corp.
(TSXV:ROVR) (OTCQB:ROVMF) ("Rover Metals" or the
"Company") is pleased to announce its intention to complete
a non-brokered private placement of units (the "Units") at a
purchase price of $0.08 per Unit, for
aggregate gross proceeds of up to CAD$1,250,000 (the "Offering"). Each Unit
shall consist of one common share in the capital of the Company (a
"Common Share") and one Common Share purchase warrant (a
"Warrant"). Each Warrant shall entitle the holder to
acquire an additional Common Share at a price of $0.15 per share for a period of 24 months
following the date of issuance.
Rover Metals anticipates using 80% of the proceeds of the
Offering to finance exploration activities at the Cabin Lake Gold
Project and remaining use of proceeds for general and
administrative expenses.
The Company may pay finder's fees in accordance with the
policies of the TSX Venture Exchange in connection with the
Offering.
Rover Metals anticipates relying, in part, on the exemption from
the prospectus requirements provided in BC Instrument 45-534 –
Exemption From Prospectus Requirement For Certain Trades to
Existing Security Holders (the "Existing Shareholder
Exemption"). The Company may also rely on other available
prospectus exemptions.
Rover Metals has set March 1, 2019
as the record date for determining shareholders entitled to
participate in the Offering in reliance on the Existing Shareholder
Exemption. If the Offering is over-subscribed, Units will be
allotted on a first come first served basis. Qualifying
investors who wish to participate in the Offering should contact
the Company using the contact information set forth below. It is
anticipated that the Offering will close in one or more tranches
commencing on or about March 15,
2019.
All securities issued under the Offering will be subject to a
hold period of four months and a day from the distribution date, in
accordance with applicable securities laws. Completion of the
Offering is subject to the receipt of all applicable approvals,
including the approval of the TSX Venture Exchange.
About Rover Metals
Rover Metals is a natural resource
exploration company specialized in gold that is currently focused
on the Northwest Territories of
Canada, one of the most mining
friendly jurisdictions in North
America. The Cabin Lake Group of High Grade Gold Projects
are located within 20km of Fortune Minerals' (TSX:FT) planned NICO
Project gold processor.
You can follow Rover Metals on its social media channels
Twitter: https://twitter.com/rovermetals, LinkedIn:
https://www.linkedin.com/company/rover-metals/, Facebook:
https://www.facebook.com/RoverMetals/, and CEO.ca:
https://ceo.ca/rovr for daily company updates and industry
news.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROVER METALS
"Judson Culter"
Chief Executive Officer and Director
Statement Regarding Forward-Looking
Information
This news release contains statements that constitute
"forward-looking statements." Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Rover's actual results, performance or achievements,
or developments in the industry to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements
regarding Rover's expectations regarding the issuance of Units and
receipt of regulatory approval therefor and the use of proceeds
from the Offering. There can be no assurance that such statements
will prove to be accurate. Actual results and future events could
differ materially from those anticipated in such statements, and
readers are cautioned not to place undue reliance on these
forward-looking statements. Any factor could cause actual results
to differ materially from Rover's expectations. Rover undertakes no
obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS
RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE
OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER
SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS
RELEASE.
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SOURCE Rover Metals Corp.