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Rover Metals Corp. (TSXV:ROVR) has announced a non-brokered private placement

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The company plans to raise gross proceeds of up to $900,000 from the placement of up to 15 million units priced at $0.06 per unit. Each unit consists of one share and one warrant, with the warrant exercisable at $0.12 for 24 months, subject to an acceleration clause.

Additional Information:

Company: Rover Metals Corp.
Website: http://www.rovermetals.com
Stock Symbol: TSXV: ROVR
Date Published: Aug 4, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Rover Metals Corp. has announced a non-brokered private placement.

The company plans to raise gross proceeds of up to $900,000 from the placement of up to 15 million units priced at $0.06 per unit.

Each unit consists of one share and one warrant, with the warrant exercisable at $0.12 for 24 months, subject to an acceleration clause.

The company has set a minimum of $600,000 for the offering.

The shares are currently trading at $0.075.

The proceeds will be used to commence exploration drilling at its 100% owned Cabin Lake gold project.

The Cabin Lake gold project, consisting of three areas, Cabin Lake, Camp Lake, and Slemon Lake, totalling approximately 1,503 hectares, is located 110 kilometers northwest of Yellowknife, and 20 kilometers southeast of Fortune Minerals’ Nico project and close to the new all season road.

The project consists of multiple high-grade drill ready gold occurrences and includes a reported resource by Aber Resources of 100,000 tons at 0.30 ounces per ton gold in their annual report with grades ranging from 4.39 g/t to 15.8 g/t (and an unpublished historical estimate of over 85,000 ounces gold).

These resources are historic in nature and further drilling is needed to bring them up to current standards.

The company also has an option to acquire a 100% interest in the Up Town Gold Property in Yellowknife, adjacent to the past producing Giant Mine.

For more information, please visit the company’s website at www.rovermetals.com, contact Judson Culter, CEO, by email at info@RoverMetals.com.

I’m Megan Edwards for Investmentpitch Media