ROJO RESOURCES CLOSES NON BROKERED PRIVATE PLACEMENT OF UNITS
April 9, 2015. Vancouver, BC ‐ Rojo Resources Ltd. (“Rojo” or the “Company”) (TSX‐V: RJ) is pleased to announce that it has received TSX Venture Exchange (“Exchange”) approval and closed its non‐brokered private placement of 10 million units (the “Units”) at $0.05 per Unit for gross proceeds of $500,000 on April 6, 2015 (the “Private Placement”). Each unit consists of one common share and one half warrant. Each whole warrant will be exercisable to acquire one common share (a “warrant share”) at an exercise price of ten ($0.10) cents per warrant share at any time for a period of two years from the date of closing provided however, that in the event that at any time the closing price of the outstanding common shares on the exchange is greater than or equal to 25 cents ($0.25) for a period of 20 consecutive trading days, the Company may, at its option, accelerate the expiry date of the warrants by giving notice to the holders thereof, and, in such case, the warrants will expire on the date which is the earlier of: (i) the 30th day after the date on which such notice is given by the issuer and (ii) the original expiry date.
A Finder’s fee of 8% will be paid on the private placement consisting of cash totalling $24,000 and 480,000 Brokers’ Warrants. Each Broker’s Warrant is exercisable into one common share at $0.10 per share for two years from closing having the same acceleration clause as the warrants issued to the purchasers. All securities issued to the purchasers and finders pursuant to the private placement will become free trading on August 7, 2015 pursuant to a four month statutory hold period expiring on August 6, 2015
The proceeds of the financing will be used for ongoing working capital purposes, accounts payable and to meet a payment obligation on the Company’s Athabasca Basin property in northern Saskatchewan.
Resignation of Director
Ms. Cathy Fong has resigned from the Board of Directors effective today and the Company would like to take this opportunity to wish her all the best for the future and thank Ms. Fong for her valuable contributions over the years.
About Rojo Resources Ltd.:
Rojo Resources Ltd. (formerly Lucky Strike Resources Ltd.) is an exploration company with an option to earn a 25% interest in approximately 700,000 acres of prospective land between seven properties in the Athabasca Basin of northern Saskatchewan.
On behalf of the Board of directors of Rojo Resources Ltd.,
President and CEO
For further information visit our website: www.luckystrikeresources.com
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