Signup for Email Updates
Country: 


Rolling Rock Resources Corporation Closes Private Placement


March 8, 2010

Rolling Rock Resources Corporation (the "Company") (TSX-V : RLL) has closed a non-brokered private placement with aggregate gross proceeds of $1,200,000 from the sale of 6,000,000 units at a price of $0.20 per unit (the "Unit"). Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase an additional common share for a price of $0.30 per share until February 25, 2012. The common shares issued, and any common shares issued pursuant to the exercise of Warrants prior to June 26, 2010 will be restricted from trading until June 26, 2010.

The Company paid a finder's fee to PowerOne Capital Markets Limited of $72,000 cash and 600,000 Finder's Options on the same terms as the Unit.

Proceeds of this Private Placement will be used primarily for continued exploration of the Company's Manitoba gold projects and general working capital.