Rover Metals Announces and Arranges $0.08 Unit Financing
June 23 2023 - 3:07PM
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 $300,000 and a maximum
of $1,250,000. 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 15,625,000 common shares and
15,625,000 common share purchase warrants issued in connection with
this financing, plus any finder’s commission warrants.
Further to the above announcement, Rover
has received orders for $500,000 and has also received approval
from the Toronto Venture Exchange (the “TSXV”) to close the first
tranche of the Unit financing for gross proceeds of $500,000 (the
“First Closing”). The Company will issue of 6,250,000
common shares and 6,250,000 warrants. Finders’ commissions are
being paid in connection with the First Closing in the amount of
cash commissions of $30,000 and finders’ warrants of 375,000. 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.
The financing is being led by experienced
lithium investors from Europe and Australia.
An updating release will be provided once the
Company has completed any future closings of the Unit financing,
including receipt of final acceptance from the TSXV for the
financing.
Use of ProceedsThe proceeds from the First
Closing will be used for Phase 2 Exploration Drilling at the
Company’s Let’s Go Lithium project located in Southwest Nevada.
About Rover MetalsRover is a
publicly traded junior mining company that trades on the TSXV under
symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under
symbol 4XO. Rover is currently focussed on the development
of a claystone lithium project in southwest Nevada, USA.
Plans for 2023 include a reverse circulation drill program at the
Let’s Go Lithium project.
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.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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