Smooth Rock Announces Non-Brokered Private Placement

Smooth Rock Ventures (OTC: SMRVF) announced a non-brokered private placement of up to 3,000,000 units at $0.25 per unit for potential gross proceeds of $750,000.

Rhea-AI Summary

Smooth Rock Ventures (OTC: SMRVF) announced a non-brokered private placement of up to 3,000,000 units at $0.25 per unit for potential gross proceeds of $750,000.

Each unit includes one share and one warrant at $0.35, exercisable for 36 months, with an acceleration clause. Proceeds will fund exploration and working capital.

Positive

• Potential gross proceeds of $750,000 to fund exploration and working capital
• Issue of up to 3,000,000 warrants at $0.35 may provide additional future capital
• Non-brokered structure may reduce financing costs versus brokered alternatives

Negative

• Up to 3,000,000 new shares plus 3,000,000 warrants imply notable potential dilution
• Financing completion subject to TSXV regulatory approval, adding execution risk
• All new securities carry a four-month hold, limiting immediate liquidity

Argus Jul 6 session

-12.50% close to close 0.0x rel. volume Open Argus

Details

News Market Reaction – SMRVF

On Jul 6, the first trading day after this news, SMRVF closed 12.50% below the previous close.

Data tracked by StockTitan Argus for the Jul 6 session.

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Vancouver, British Columbia--(Newsfile Corp. - June 10, 2026) - Smooth Rock Ventures Corp. (TSXV: SMRV) (OTC Pink: SMRVF) ("Smooth Rock" or the "Company") is pleased to announce a Non-brokered Private Placement of up to 3,000,000 units (the "Units") of the Company at a price of $0.25 per Unit for aggregate gross proceeds of $750,000 (the "Private Placement"). Each Unit shall consist of one common share of the Company ("Share") and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company ("Warrant Share") at an exercise price of $0.35 per Warrant Share for a period of 36 months from the closing date of the Private Placement (the "Closing Date"), provided that, if the closing price of the Shares of the Company is $1.00 or greater per Share for five (5) consecutive days at any time after the Closing Date, the Company may accelerate the warrant term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Company announcing the reduced warrant term.

The proceeds from the Private Placement will be used to advance the Company's exploration portfolio and for general working capital purposes.

In consideration of the introduction to the Company of investors in the Private Placement, finder's fees may be paid in cash and/or securities of the Company in accordance with applicable securities laws and TSXV Exchange policies. Completion of the Private Placement will be subject to receipt of all necessary regulatory approvals, including approval of the TSXV Exchange.

The securities issued in connection with the Private Placement will be subject to a statutory four-month hold period under applicable Canadian securities laws commencing on the Closing Date.

About Smooth Rock Ventures Corp.

Smooth Rock Ventures Corp. is a US-based exploration-stage company engaged in the acquisition and exploration of mineral properties, primarily in the prolific Walker Lane mineral belt located in Nevada. The Company owns a 100% undivided interest in the Palmetto Gold Project, that consists of 116 unpatented mining claims totalling 2217 acres located in Esmeralda County, Nevada. The Project hosts a NI 43-101 compliant mineral resource estimation (WSP Canda Inc. McCraken 10-15-2020). Palmetto has seen significant exploration work completed to date by numerous companies including, Newmont Gold, Phelps Dodge Corp, Romarco Minerals, and most recently by ML Gold Corp. The initial "Discovery Hole" in 1988, was drilled by Phelps Dodge and bonanza gold-silver veins were subsequently drilled by Romarco Minerals in 1997-2002. For more information, visit www.smoothrockventures.com.

FOR MORE INFORMATION PLEASE CONTACT:

Michael Ruggles, CEO & Director
Tel: 604.997.3369
Email: info@smoothrockventures.com
Website: www.smoothrockventures.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300951

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Smooth Rock Ventures (SMRVF) announcing in its June 10, 2026 financing?

Smooth Rock Ventures announced a non-brokered private placement of up to 3,000,000 units at $0.25 each. According to Smooth Rock, gross proceeds could total $750,000, funding its exploration portfolio and general working capital needs.

What are the terms of the SMRVF private placement units and warrants?

Each unit includes one common share and one warrant exercisable at $0.35 for 36 months. According to Smooth Rock, warrants may be accelerated if the share price is at least $1.00 for five consecutive days after closing.

How will Smooth Rock Ventures use the $750,000 private placement proceeds?

The company plans to use the proceeds to advance its exploration portfolio and for general working capital. According to Smooth Rock, this capital supports ongoing project work and corporate requirements without specifying individual project allocations.

What are the regulatory and hold period conditions for the SMRVF private placement?

Completion is subject to all necessary regulatory approvals, including the TSXV. According to Smooth Rock, securities issued will be subject to a statutory four-month hold period under Canadian securities laws starting from the closing date.

Will there be finder’s fees paid in the Smooth Rock Ventures (SMRVF) financing?

Yes, finder’s fees may be paid in cash and/or securities for introducing investors. According to Smooth Rock, any such fees will comply with applicable securities laws and TSXV policies related to private placements and compensation.