Rokmaster Closes Final Tranche of Private Placement

VANCOUVER, BC, Jan. 7, 2021 /CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or the "Company") wishes to announce that it has closed the final tranche (the "Final Tranche") of its non-brokered private placement with the issuance of 575,000 non-flow-through units at a price of $0.32 per unit (a "NFT Unit") for gross proceeds of $184,000. Each NFT Unit is comprised of one common share of the Company and one common share purchase warrant exercisable to purchase one additional common share of the Company at a price of $0.48 for a period of two years expiring on January 6, 2023. All securities issued with respect to the Final Tranche are subject to a hold period expiring on May 7, 2021.

The Company also wishes to correct the exercise price of $0.48 with respect to the finder's warrants issued to Ascenta Finance Corp ("Ascenta") as reported in its news release dated December 31, 2020. The total finder's fees paid to Ascenta, including finder's fees on the Final Tranche, consist of cash of $622,095, 910,438 finder's warrants with an exercise price of $0.44 expiring on December 30, 2022, 651,945 finder's warrants with an exercise price of $0.32 also expiring on December 30, 2022 and 40,250 finder's warrants with an exercise price of $0.32 expiring on January 6, 2023. 

Proceeds from the Final Tranche will be used by the Company on non-flow-through eligible project expenses, as well as for general working capital purposes.

On behalf of the Board of Directors,

"John Mirko"

John Mirko, President and Chief Executive Officer.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Rokmaster Resources Corp.

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