Toronto, ON – August 29, 2017 – Rockcliff Copper Corporation ("Rockcliff" or the "Company") (TSX VENTURE: RCU) (FRANKFURT: RO0) (WKN: A142TR) announced that the Company has closed its non-brokered Offering announced in its press release of August 22, 2017. The Company placed 22,500,000 units at a price of $0.06 per unit for gross proceeds of $1,350,000 (the “Offering”).
Rockcliff’s President & CEO Ken Lapierre commented, “We are pleased that the oversubscribed financing is now complete and significant funds are available to continue with our exploration efforts on our Snow Lake Project. We will continue to focus on our priority properties specifically the Laguna Gold Property, the Talbot Copper Property and the Bur Zinc Property. Our project hosts some of the highest grade precious and base metal properties in the Flin Flon-Snow Lake mining camp and we plan to advance these properties through a systematic, scientific approach focussed on geology, geophysics and drilling”.
Each unit priced at $0.06 consisted of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.12 for two years from closing.
Eligible finders were paid cash fees of $ $66,849.98 and 1,114,166 broker warrants. Each broker warrant entitles the holder to acquire one common share of Rockcliff at $0.06 for a period of two years from closing.
All securities issued pursuant to the above referenced private placement are subject to a four month hold period expiring on December 29, 2017.
Insiders of the Company subscribed for 450,000 units of the Offering. The insider purchases are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contained in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the units issued to the insiders does not exceed 25% of the Company’s market capitalization.
About Rockcliff Copper Corporation
Rockcliff is a Canadian resource exploration company focused on the discovery, advancement and consolidation of the highest grade, unmined metal deposits in the prolific Flin Flon – Snow Lake greenstone belt specifically centered in Snow Lake, Manitoba. The Snow Lake Project, totalling in excess of 45,000 collective hectares, is located in and around the Snow Lake mining camp and hosts the highest grade unmined NI 43-101 copper deposits (the gold-rich Talbot copper deposit and the Rail copper deposit), and the highest grade unmined historical zinc deposits (the Lon zinc deposit, the Bur zinc deposit, the Morgan zinc deposit and the down dip continuation of the Pen zinc deposit). The Snow Lake Project also includes Manitoba’s first and highest grade former lode gold producer (Laguna gold property), a Net Smelter Royalty (NSR) on the Tower property (the T-1 copper deposit) and the near surface MacBride zinc deposit located north of Snow Lake near Leaf Rapids, Manitoba.
Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
Neither 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 release.
For further information, please contact:
Rockcliff Copper Corporation
Ken Lapierre, P.Geo
President & CEO
Cell: (647) 678-3879
Off: (416) 644-1752
CHF Capital Markets
Cathy Hume, CEO
Phone: (416) 868-1079 ext.231