RRS Selects Quarry Contractor - Forms Strategic PartnershipsRRS new 2018-03-08 Ed Seguin & Sons Trucking and Paving Ltd. (“Seguin”) selected as Contract Quarry Operator for Snow White
• Strategic Partnership formed with SCR Mining and Tunneling L.P. (“SCR”) for collaboration on projects
• Seguin and SCR will invest $225K into Rogue, to fund project identification and future advancement
• Ministry of Natural Resources and Forests (“MNRF”) work permit received to reseat temporary bridge to be followed by Diamond drill program to define Snow White Quartz zone
In connection with the partnership agreement, Rogue has agreed to issue and sell 750,000 Units, to be split evenly between Seguin and SCR at a price of $0.30 per Unit for aggregate gross proceeds of $225,000 (the “Offering”).
Each Unit will include one common share and one common share purchase warrant (“Warrant”) entitling the holder thereof to purchase one common share at an exercise price of $0.45 until May 31, 2018. The Offering is subject to regulatory approval, including approval of the TSX Venture Exchange (the “TSXV”).
Closing of the Offering is expected to occur on or about March 20, 2018. The proceeds from the Offering will be used for Canadian Exploration Expenses, as defined in the Income Tax Act (Canada)