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RZR Razore Rock Resources Inc

0.075
0.00 (0.00%)
27 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Razore Rock Resources Inc CSE:RZR CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.075 0.075 0.20 0 01:00:00

Razore Rock Announces Working Capital and Flow-Through Private Placement

14/02/2014 5:49pm

Marketwired Canada


Razore Rock Resources Inc. ("Razore Rock" or the "Company") (CSE:RZR) wishes to
announce that it will be undertaking a non-brokered flow-through unit private
placement and a non-brokered working capital unit private placement to raise
aggregate proceeds of up to $1,550,000 (the "Offering") to provide it with
operating and exploration capital for its Oxford Lake Gold Project.


Razore Rock is offering up to 10,000,000 flow-through units of the Company at a
price of $0.11 per flow- through unit, for gross proceeds of up to $1,100,000.
Each flow-through unit (a "FT Unit") consists of one flow-through common share
of the Company and one (1) non flow-through share purchase warrant (a
"Warrant"). Each full Warrant entitles the holder to acquire an additional
common share for two (2) years from the closing of the Offering at a price of
$0.20 per Common Share.


Razore Rock is also offering up to 5,000,000 working capital units of the
Company at a price of $0.09 per working capital unit, for gross proceeds of up
to $450,000. Each working capital unit (a "WC Unit") consists of one common
share of the Company and one (1) share purchase warrant (a "WC Warrant"). Each
WC Warrant entitles the holder to acquire an additional common share for two (2)
years from the closing of the Offering at a price of $0.14 per Common Share.
Razore Rock applied to the Canadian Securities Exchange and was granted an
exemption from its private placement pricing rules to allow the Company to offer
WC Units at $0.09 to facilitate the financing of Razore Rock. The normal
application of the pricing rules would have required a price of $0.105 for the
WC Units.


The Company will pay eligible finders a finder's fee of 10% cash and 10% working
capital compensation options ("WC Compensation Options") for the sale of WC
Units and 10% flow-through compensation options ("FT Compensation Options") for
the sale of FT Units. Each WC Compensation Option entitles the holder to acquire
an additional common share for two (2) years from the closing of the Offering at
a price of $0.09 per Common Share and each FT Compensation Option entitles the
holder to acquire an additional common share for two (2) years from the closing
of the Offering at a price of $0.11 per Common Share.


Razore Rock also wishes to announce that further to its press release of
December 30, 2013 relating to the acquisition of an option to earn up to a 60%
working interest in the Oxford Lake Gold Property, it has filed a PowerPoint
slide presentation relating to the Oxford Lake Gold Property at
http://razore-rock-resources-inc.listings.cnsx.ca/About-Us.aspx. 


About Razore Rock Resources Inc.

Razore Rock Resources Inc. is a mineral exploration company focused on the
acquisition, exploration and development of mineral resources, primarily gold,
in Manitoba. Razore Rock holds an option to earn up to a 60% working interest in
the 35,300 ha Oxford Lake Gold Property in central Manitoba, which hosts an
historic gold deposit, as well as a 100% interest in five mining claim blocks
(the "Duff Claims Property") in the Sourdough Bay and Mikanagan Faults Area,
Flin Flon District, Manitoba.


Cautionary Note Regarding Forward-Looking Statements: This Press Release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this Press Release, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar expressions
are intended to identify forward-looking statements. Such statements reflect our
current views with respect to future events and are subject to risks and
uncertainties. Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in filings made by
us with the Canadian securities regulatory authorities. Should one or more of
these risks and uncertainties, such as actual results of current exploration
programs, the general risks associated with the mining industry, the price of
gold and other metals, currency and interest rate fluctuations, increased
competition and general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned, anticipated,
or expected. We do not intend and do not assume any obligation to update these
forward-looking statements, except as required by law. The reader is cautioned
not to put undue reliance on such forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Razore Rock Resources Inc.
Bill Johnstone
Corporate Secretary
(416) 865-6605

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