Rockwealth Resources Corp. Provides Loan to Realgold Resources Corp. in Advance of Amalgamation
KELOWNA, Oct. 2, 2019 - Rockwealth Resources Corp. ("Rockwealth" or the "Company") (TSXV: RWR) announces that it has agreed to provide a loan ("Loan") to Realgold Resources Corp. ("Realgold") in connection with the transaction previously announced on September 13, 2019, pursuant to which Rockwealth will acquire all of the issued and outstanding securities of RealGold (the "Transaction"). The Loan is for a principal amount of $250,000, and should the Transaction be terminated, interest shall accrue on the unpaid balance of the principal amount at a rate of 5% per annum as of such termination. As consideration for the Loan, Realgold will grant security to Rockwealth over all of its present and after-acquired personal property. The Loan is subject to the approval of the TSX Venture Exchange. For further information in respect of the Transaction, please see the Company's news release dated September 13, 2019.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dev Randhawa"
Dev Randhawa
President and Director
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.
Forward-Looking Statements
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including the statement that the Transaction will take place. Completion of the Transaction remains subject to a number of conditions, including but not limited to, approval of the TSX Venture Exchange and the parties' ability to satisfy any and all other closing conditions such as the completion of a financing as more completely described in the Company's news release of September 13, 2019. There can be no assurance that the Transaction will be completed as proposed or at all. These forward looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company and Realgold will operate in the future, including, anticipated costs, and the ability to achieve their respective goals. Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions, changes in legislation and regulations, increase in operating costs, equipment failures, failure of counterparties to perform their contractual obligations, litigation, the loss of key directors, employees, advisors or consultants, and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Readers should not place undue reliance on the Company's forward-looking statements.
SOURCE Rockwealth Resources Corp.
Contact
Dev Randhawa, Phone: 1-250-868-8177