Smooth Rock Ventures Corporation to Close Private Placement
14.07.2020 | Newsfile
Vancouver, July 14, 2020 - Smooth Rock Ventures Corp. (TSXV: SOCK) ("Smooth Rock" or the "Company") is pleased to announce it will be closing an oversubscribed non-brokered private placement previously announced on July 8, 2020, for aggregate gross proceeds of $1,005,180.00 (the "Private Placement") through the issuance of 14,359,711 units at a price of $0.07 per unit.Each unit will consist of one common share and one warrant. Each warrant entitles the holder to acquire one common share of the Company at a price of $0.11 per common share for a period of 24 months following the date of issuance.
The Company will pay applicable finder's fees on the Private Placement of $53,608.00 in cash and 765,829 non-transferable finder's warrants, each entitling its holder to acquire one common share at $0.11 for a two (2) year period after closing of the Private Placement.
All securities to be issued above are subject to a hold period expiring on November 16, 2020, being four months and one day from the closing of the Private Placement, in accordance with applicable securities laws. The net proceeds of the Private Placement will be used for work on the Company's mineral properties and general working capital. The closing of the Private Placement is subject to final acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
"Alan Day"
Alan Day, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Smooth Rock Ventures Corp.
(TEL)- (888) 909-5548, (FAX)-(888) 909-1033
Email: info@smoothrockventures.com
Website: www.smoothrockventures.com
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 release.