Rover Metals Announces and Arranges $0.08 Unit Financing
November 16 2022 - 12:58PM
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF)
(FSE:4XO) (“
Rover” or the
“
Company”) is pleased to announce a non-brokered
private placement financing for a minimum of $350,000 and a maximum
of $800,000. The Company will issue $0.08 units. Each unit is
priced at $0.08 and is comprised of one common share and one common
share purchase warrant (the “Units”). The warrants on the Units
have an exercise price of $0.12 per warrant share, and a life of
two and half (2 ½) years. Assuming the financing is fully
subscribed, there will be up to 10,000,000 common shares and
10,000,000 common share purchase warrants issued in connection with
this financing, plus any finder’s commission warrants.
Further to the above announcement, Rover has
also now received approval from the Toronto Venture Exchange (TSXV)
to close the first tranche of the Unit financing for gross proceeds
of $376,000 (the “First Closing”). The Company will issue of
4,700,000 common shares and 4,700,000 warrants. Finders’
commissions are being paid in connection with the First Closing in
the amount of cash commissions of $13,312.50 and finders’ warrants
of 266,250. The finder’s warrants will have an exercise price of
$0.12 and a useful life of two and half (2 ½) years. The shares and
warrants issued under the First Closing will bear the minimum
four-month regulatory hold period from the date of issuance.
An updating release will be provided once the
Company has completed the Unit financing.
Shares for Services
AgreementThe TSXV has also approved a common shares for
services issuance pursuant to a previously approved consulting
agreement with one of the Company’s former arm’s length advisors.
Services in the amount of $22,500 for the three-month period from
July 1, 2022 to September 30, 2022 will be paid through the
issuance of 187,500 common shares at a deemed price of $0.12 per
share. The arm’s length advisory agreement expired effective
September 30, 2022. The shares will bear the minimum four-month
regulatory hold period from the date of issuance.
About Rover MetalsRover is a
publicly traded junior mining company that trades on the TSXV under
symbol ROVR, on the OTCQB under symbol ROVMF (temporarily trading
as ROVMD), and on the FSE under symbol 4XO. The Company is now
developing a diverse portfolio of mineral resource projects: (1)
Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT,
Canada; as well as (3) Gold in NT, Canada. The Company is exclusive
to the mining jurisdictions of the U.S. and Canada.
You can follow Rover on its social media
channels:Twitter: https://twitter.com/rovermetalsLinkedIn:
https://www.linkedin.com/company/rover-metals/Facebook:
https://www.facebook.com/RoverMetals/for daily company updates and
industry news, andYouTube:
https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor
corporate videos.Subscribe to our Newsletter on our
Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF
DIRECTORS “Judson Culter” Chief Executive Officer and
Director
For further information, please contact: Email:
info@rovermetals.comPhone: +1 (778) 754-2617
Statement Regarding Forward-Looking
InformationThis 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. There
can be no assurance that such statements 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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