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RRK

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Share Name Share Symbol Market Type
TSXV:RRK TSX Venture 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 -

Red Rock Arranges $750,000 Term Loan

13/06/2011 10:37pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES

RED ROCK ENERGY INC. (TSX VENTURE:RRK) ("Red Rock" or the "Corporation")
announces that it has obtained a $750,000 loan (the "Loan") from 1262430 Alberta
Ltd., a private arm's length Alberta corporation. Interest on the Loan will
accrue at the rate of 12% per annum and will be payable every two months. The
Loan will have a term of one year, and will be secured by a first charge against
Red Rock's Saskatchewan mineral properties only, which are prospective for
uranium. As additional consideration, the Corporation will issue to the lender
warrants ("Warrants") to acquire common shares ("Common Shares") from the
treasury of Red Rock. The Warrants will be non-transferrable, and will entitle
the Lender to acquire up to 468,750 Common Shares at an exercise price of $0.25
per share for a period of 12 months from the closing of the transaction, which
is expected to occur on or about June 15, 2011. The Warrants, and any shares
obtained on the exercise thereof, will be subject to a 4 month hold period which
will expire on or about October 16, 2011.


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