Rogue Resources Announces Closing of Fourth Tranche of Private Placement
VANCOUVER, BC--(Marketwired - December 18, 2015) - Rogue Resources Inc. (TSX VENTURE: RRS) ("Rogue" or the "Company") is pleased to announce that, subject to regulatory approval, it has closed the fourth tranche of its previously announced non-brokered private placement through the issuance of 3,450,000 non-flow through units for gross proceeds of $345,000. This brings the total raised to date of $2.2 million (of which $1.4 million are non-flow through funds). The shares forming part of the units in this tranche are subject to a four month hold period expiring April 19, 2016 and finder's fees in the amount of $24,150 and 241,500 compensation warrants are payable. For further details of the offering see the Company's September 9, 2015 news release.
Use of Proceeds for the Offering
Use of proceeds include advancing the Lac de la Grosse Femelle Silica property in 2016 by way of initiating its 2016 exploration program, including metallurgical testing and chemical analysis, resource calculation and PEA and exploration recommended in these reports, environmental studies and additional drilling and bulk sampling.
About Rogue Resources Inc.
With its diverse portfolio of properties, all in good standing, the Company has the ability to focus its efforts and finances on the project that demonstrates the greatest market potential for return. The extension by Québec Hydro of high voltage power to within 4 km of the project is seen as a great foundational point to launch our silica rich quartzite property.
The Femelle Project is located approximately 42 km north of Baie-Saint Paul, situated on the St. Lawrence River, and is 4 km northeast of the Mine Sitec silica mine, in operation for over fifty years. Access to the project is via a paved highway and well maintained forestry access roads.
On Behalf of Rogue Resources Inc.
John de Jong
CEO & President
Neither the 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 news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of exploration work. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Contact
For additional information regarding this news release please contact:
John de Jong
CEO/President
(604) 629-1808
john@rogueresources.ca
www.rogueresources.ca
Sean Budnick
Investor Relations
Montréal, QC
(514) 397-0110
sean@allysontaylorpartners.com