Rockcliff Metals Corp C.RCLF

More dilution + warrants

[BSdetector2016]

Toronto, Ontario--(Newsfile Corp. - December 1, 2021) - Rockcliff Metals Corporation (CSE: RCLF) (OTCQB: RKCLF) ("Rockcliff" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for the sale of up to 25,000,000 flow-through units of the Company (the "FT Units") at a price of C$0.06 per FT Unit for gross proceeds of up to C$1,500,000. Red Cloud Securities Inc. will be acting as a finder on behalf of the Company for the Offering.

Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one non-flow-through common share of the Company at an exercise price of C$0.10 for a period of 24 months following the closing date of the Offering.

https://www.newsfilecorp.com/release/106083/Rockcliff-Announces-Private-Placement-for-up-to-C1.5-Million-to-Follow-Up-on-Recent-Exploration-Success

[Martyboss]

Wow more dilution 330,000,000 plus, shares out now, to date they have not found enough ore  on any of their properties to entice a larger company to develop into a mine. 

[ggrellette]

The only way they could raise money is using the FT units as a tax savings for those who need it. Not happy about dilution but better then a share consolidation(rollback). 

[ggrellette]

I believe they will be able to close it.

[ggrellette]

It is closed as I thought it would be.