Vancouver, British Columbia, August 1, 2017 - Rotation Minerals Ltd. (“Rotation” or the “Company”) (TSXV: ROT) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Private Placement”) previously announced on July 27, 2017.
The first tranche closing consists of a total of $500,000.10 raised through the issuance of 3,333,334 units (the “Units”) of the Company at a price of $0.15 per Unit. Each Unit consists of one common share and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share at $0.25 for a period expiring 24 months following the closing date of the Private Placement.
All securities issued in connection with the first tranche of the Private Placement will be subject to a four month hold period expiring on December 2, 2017, during which time the securities may not be traded. The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
Proceeds from the Private Placement will be used to fund the acquisition, exploration and evaluation of the Company’s mineral properties and as general working capital.
The Company has the option to earn up to a 70% interest in the 4-J’s property and an agreement to purchase a 100% interest in the Scottie property, both located in the Golden Triangle area of British Columbia.
Further information on Rotation can be found on the Company’s website at www.rotationminerals.com and at www.sedar.com, or by contacting Bradley Rourke, President and CEO at (250) 877-9902.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
FORWARD LOOKING STATEMENTS
This release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release. The Securities of Rotation Minerals Ltd. have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.