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Roughrider Exploration (TSXV:REL) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $1 million from the placement of up to 5 million units priced at $0.20 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.30 for 24 months, subject to an acceleration clause.

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Additional Information:

Company: Roughrider Exploration
Website: http://www.RoughriderExploration.com
Stock Symbol: TSXV: REL
Date Published: Jul 15, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Roughrider Exploration has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1 million from the placement of up to 5 million units priced at $0.20 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.30 for 24 months, subject to an acceleration clause.

The proceeds will be used for working capital purposes and for exploration work on the company's mineral properties.

The shares are currently trading at $0.27.

Roughrider's current exploration focus is on the Empire Mine property, for which it signed an option to acquire a 100% interest in June 2020.

The Empire Mine property, located on Northern Vancouver Island, B.C., is approximately 28 kilometers southwest of Port McNeill, B.C.

The original property covered 7,114 hectares, which has been increased to approximately 15,000 hectares by Roughrider and now covers an area approximately 11 kilometers wide by 22 kilometers long.

The property covers 22 mineral occurrences, including 3 past producing open pit and two underground past producing mines for magnetite, copper, gold, and silver.

Previous underground and open pit mining between 1916-1973 was focussed on the iron ore and it was not until the 1980's that the gold potential of the area was recognized.

Roughrider's other properties include its 100% owned Eldorado, Gin and Bonanza properties located in the Golden Triangle of Northern B.C. which are adjacent to the Red Chris Mine as well as its 100% Sterling property which is located in Central B.C.

Management is also continuously reviewing strategic precious metals opportunities in Western North America.

For more information, please visit the company’s website at www.RoughriderExploration.com, contact Adam Travis, CEO, at 250-878-7554 or by email at adam@RoughriderExploration.com.

I’m Fiona Forbes for Investmentpitch Media