Rockhaven Resources Ltd. Announces Private Placement

Rhea-AI Summary

Rockhaven Resources (TSXV:RK) has announced a private placement offering of $1,000,000, comprising 16,666,667 units at $0.06 per unit. Each unit includes one common share and one share purchase warrant, with warrants exercisable at $0.10 for 36 months from closing. The non-brokered offering's proceeds will be used for working capital. The company may pay finder's fees and expects insider participation. The offering requires TSX Venture Exchange approval.

Positive

• Raising $1,000,000 in additional capital for working capital purposes
• Potential insider participation indicating management confidence

Negative

• Dilutive effect on existing shareholders through issuance of 16,666,667 new units
• Additional potential dilution from warrant exercise
• Low unit price of $0.06 indicates challenging market conditions

Not for dissemination or distribution in the United States and not for distribution to United States Newswire Services

VANCOUVER, BC / ACCESSWIRE / November 27, 2024 / Rockhaven Resources Ltd. (TSXV:RK) ("Rockhaven") announces a private placement (the "Offering") of $1,000,000, to consist of the sale of 16,666,667 units ("Units") at $0.06 per Unit, with each Unit to consist of one common share and one share purchase warrant (each a "Warrant"), with each Warrant to entitle the holder to purchase one additional common share at a price of $0.10 for a period of 36 months from closing.

The proceeds from the Offering will be used for working capital purposes.

The Offering will be non-brokered; however, Rockhaven may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange ("TSX-V"). The Offering is subject to the completion of formal documentation and receipt of all regulatory approvals, including TSX-V acceptance.

Rockhaven anticipates that insiders may subscribe for a portion of the Offering. The participation of insiders in the private placement would constitute a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 - "Protection of Minority Security Holders in Special Transactions" ("MI 61-101"). If applicable, Rockhaven intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided for under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of insider participation in the Offering would not exceed 25% of Rockhaven's market capitalization.

About Rockhaven
Rockhaven Resources Ltd. is focused on advancing its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. Rockhaven has completed a mineral resource estimate and a preliminary economic assessment on the Klaza deposit (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, "Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada." which can be viewed at www.sedarplus.ca under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com).

Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.com

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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 NEWS RELEASE.

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.

SOURCE: Rockhaven Resources Ltd.

View the original press release on accesswire.com

FAQ

What is the size and price of Rockhaven Resources' (TSXV:RK) November 2024 private placement?

Rockhaven Resources announced a $1,000,000 private placement offering 16,666,667 units at $0.06 per unit.

What are the warrant terms in Rockhaven Resources' (TSXV:RK) 2024 private placement?

Each warrant allows the holder to purchase one additional common share at $0.10 for a period of 36 months from closing.

How will Rockhaven Resources (TSXV:RK) use the proceeds from the private placement?

The proceeds from the private placement will be used for working capital purposes.