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Vancouver, BC – July 13, 2022 –Rockhaven Resources Ltd. (TSX-V: RK) (“Rockhaven” or the “Company”) announces that it has closed the non-brokered private placement offering (the “Offering”) originally announced on June 2, 2022 and as amended on June 14, 2022.The Offering consisted of the sale of the following securities:
(a) 12,600,000 flow-through common shares at a price of $0.10 per share, for gross proceeds of $1,260,000; and
(b) 40,500,000 common shares at a price of $0.09 per share, for gross proceeds of $3,645,000.
The following related parties participated in the private placement:
|(a)||Strategic Metals Ltd. (a reporting issuer listed on Tier 1 of the TSX Venture Exchange and a controlling shareholder of Rockhaven)||–||11,500,000||common shares|
|(b)||Larry Donaldson (the Chief Financial Officer of Strategic Metals Ltd.)||–||1,000,000||flow-through shares|
|(c)||Bruce Youngman (a Director of Rockhaven)||–||100,000||flow-through shares|
|(d)||Condire Resource Master Partnership, LP (an Insider of Rockhaven)||–||15,500,000||common shares|
Regarding the participation of these related parties in the private placement, Rockhaven relied on the exemption from the formal valuation requirement contained in section 5.5 of Multilateral Instrument 61-101 “Protection of Minority Security Holders in Special Transactions”, and on the exemption from the minority shareholder approval requirement contained in section 5.7 of said Multilateral Instrument 61-101.
All of the securities issued pursuant to the Offering are subject to a hold period in Canada until October 28, 2022.The proceeds from the Offering will be used for further exploration at Rockhaven’s Klaza Gold-Silver Project located in the Dawson Range Gold Belt of southern Yukon, and for general working capital purposes.
Rockhaven paid finders’ fees totalling $82,600 to Laurentian Bank Securities of Montreal, Quebec and to Kreuzfeld Ag of Chur, Switzerland in connection with the private placement.
Rockhaven Resources Ltd. is a well-funded explorer focused on the exploration and development of 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.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com).
President, CEO and Director
Rockhaven Resources Ltd.
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