VANCOUVER, BC, Jan. 4, 2023 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) (“Rokmaster” or “the Company”) is pleased to announce that in preparation of completing the planned spinout of the Duncan Lake Zinc Project (the “Duncan Project”) to the Company’s wholly owned subsidiary, 4Metals Exploration Ltd. (see news release dated January 26, 2022), the Company has entered into a Termination Agreement (the “TA”) and a Property Purchase Agreement (the “PPA”).
The TA is with the three vendors of the Duncan Project (see news release dated November 2, 2016) and calls for the cancellation of all their Special Warrants in the Company and their 2.5% NSR Royalty on the Company’s 100% owned Duncan Project in consideration of Rokmaster issuing them an aggregate of 3,000,000 Rokmaster common shares (the “Settlement Shares”).
The PPA is to acquire a 100% interest in two important claim blacks totaling 1,627 hectares south of the Duncan Project by issuing 2,000,000 Rokmaster common shares (the “Purchase Price Shares”) to the vendors.
The vendors of the TA and the PPA are arm’s length third parties and the issuance of the Settlement Shares and the Purchase Price Shares are subject to receipt of regulatory approval.
On Behalf of the Board of Directors of
Rokmaster Resources Corp.
President & Chief Executive Officer.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws (“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. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future vents or results or otherwise.