Highrock Resources completes $350,000 IPO Highrock Resources completes $350,000 IPO
2023-02-28 13:50 ET - News Release
Mr. Gary Musil reports
HIGHROCK RESOURCES COMPLETES INITIAL PUBLIC OFFERING AND LISTS ON THE CANADIAN SECURITIES EXCHANGE
On Feb. 28, 2023, Highrock Resources Ltd. completed its initial public offering of 3.5 million common shares in its capital at a price of 10 cents per share for gross proceeds of $350,000.
The net proceeds from the initial public offering will be used for working capital purposes, for general and administrative purposes, to carry out exploration on the Pathfinder property located near Grand Forks, B.C., and to make payments pursuant to the option agreement in respect of the Pathfinder property.
Haywood Securities Inc. acted as agent for the IPO. The agent received a cash commission equal to 10 per cent of the gross proceeds of the IPO and a corporate finance fee, which included the issuance of 105,000 shares to the agent at a deemed price of 10 cents per share. Additionally, the company granted the agent and its selling group, non-transferable compensation options entitling the holder(s) to purchase an aggregate of 350,000 shares at a price of 10 cents per share, exercisable on or before Feb. 28, 2025.
The shares are expected to commence trading on the Canadian Securities Exchange on March 1, 2023, under the symbol HRK.
About Highrock Resources Ltd.
Highrock Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its principal property is the Pathfinder property, a gold prospect located in the Greenwood mining division in Southern British Columbia. The 295.56-hectare property covers a highly mineralized area, also known as the historically productive and larger Republic-Greenwood gold district.
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