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Smooth Rock Ventures (TSXV:SOCK) 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 approximately 14.3 million units priced at $0.07 per unit. The units consist of 1 share and 1 warrant, with the full warrant exercisable at $0.11 for 24 months.

Additional Information:

Company: Smooth Rock Ventures
Website: http://www.SmoothRockVentures.com
Stock Symbol: TSXV: SOCK
Date Published: Jul 9, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Smooth Rock Ventures 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 approximately 14.3 million units priced at $0.07 per unit.

The units consist of 1 share and 1 warrant, with the full warrant exercisable at $0.11 for 24 months.

The shares are currently trading at $0.085.

Proceeds will be used for work on the company’s mineral properties and general working capital.

The company has a large and strategic land position in multiple projects in one of Nevada’s historical highest grade mining districts.

The company’s Garfield Flats, Palmetto and Giroux Projects are located in Mineral County, one of Nevada’s historical highest grade and mining friendly districts.

The Walker Trend has hosted historical gold, sliver and copper producers such as the Comstock Lode silver/gold mine, the Candelaria silver/gold mines and the prolific Anaconda Copper mine, some of the richest mines ever found.

The company’s advanced Palmetto Project hosts the historic past producing Red Rock Mine and within close proximity several past producing small-scale, high-grade gold mines.

It has an historical NI 43-101 inferred resource of more than 350,000 gold equivalent ounces and excellent potential for regional expansion.

The company recently announced initial results from the Phase I exploration program on the Giroux Project, which was designed to expand and provide confirmation of the previous regional geological mapping and sampling program by the property's lease owner that yielded significant results.

Historical grab sampling result highlights included 1.17% nickel, 1.6% nickel, 1.7 % nickel, and 3.9% nickel taken from outcrops, old workings and mine dumps.

In addition to nickel mineralization, the property contains gold, copper, silver, as well as lead-zinc and barite mineralization.

A previous Geophysical program was also completed on the property, indicating several potential drill targets.

Of particular note was the presence of Cesium in the initial assay results, previously unknown to exist on the property.

Cesium is extremely rare, only a few pegmatite mines produce cesium globally.

For more information, please visit the company’s website at www.SmoothRockVentures.com, contact Alan Day, President & CEO, at 888-909-5548 or by email at info@SmoothRockVentures.com.

I’m Cassandra Bolinski for Investmentpitch Media