ROVER ANNOUNCES FIRST CLOSING OF $0.03 UNIT FINANCING
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S.
Vancouver, British Columbia – (September 4, 2024) – Rover Critical Minerals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that further to its release of July 29, 2024, the Company has closed $169,900.40 in subscriptions for its $0.03 Unit Financing. The Company will issue 5,663,347 of its $0.03 units. Each unit is comprised of one common share and one common share purchase warrant (the “Units”). The warrants on the Units have an exercise price of $0.05 per warrant share, with a life of two years. The shares and warrants issued under the first closing will bear the minimum four-month regulatory hold period from the date of issuance.
An updating release will be provided once the Company has completed any future closings of the Unit financing, including receipt of final acceptance from the TSXV for the financing.
Use of Proceeds
The proceeds from the first closing will be used for future working capital for general and administrative expenses. The proceeds from any future closings under this financing will be used to finance ongoing permitting and exploration work at the Company’s Let’s Go Lithium project located in the Amargosa Valley of Nevada, USA. Future closings will also be allocated towards the acquisition costs related to the, Silicon Valley project, as announced by the Company on July 24, 2024.
Judson Culter, CEO at Rover, states: “I have personally participated in the first closing of this financing. Our board of directors and management team remain dedicated to the building of a critical minerals resource company. We are doubling down on our commitment to developing a claystone lithium resource in Nevada, as well as on our commitment of adding additional projects of value to our critical minerals’ portfolio. Recent news from Century Lithium about their lithium carbonate production at their Amargosa pilot plant is very encouraging for the future of claystone hosted lithium projects.”
Resignation of Paddy Moylan as President and Director
Paddy Moylan has resigned as President and Director of the Company effective August 31, 2024. Mr. Culter, the Company’s CEO, will assume the role of President.
Paddy Moylan, Rover’s departing President commented: “Although I am moving on in a formal way, I fully support Judson and the Company. The Company is run in a very financially responsible way and I have made this decision to ensure the overheads are reduced so that investors dollars are put into the Company’s projects and not into administration. I look forward to watching all progress.”
Judson Culter, CEO at Rover, states: “We thank Mr. Moylan for his service. He remains a valued shareholder of our Rover and I’m pleased to say that we part ways on very good terms.”
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Rover's actual results, performance, achievements, or developments in the industry to differ materially from the anticipated results, performance, or achievements expressed or implied by such 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. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.