Rockridge Proposes Name Change to Zinc One Resources Inc.
As of the date of this news release, there are 37,594,160 shares issued and outstanding (which includes the shares issued in connection with closing of the Crackingstone Property, as set forth below). After the forward stock-split, there will be 56,391,240 common shares issued and outstanding. The Company anticipates that the forward stock split will make its shares more accessible to investors and enhance liquidity for its shareholders.
In accordance with the Company's Articles, the name change and forward-stock split do not require approval of the shareholders.
The Company's new website, which is currently under construction, will be www.zincone.com.
The forward stock-split and name change are subject to the acceptance of the TSX Venture Exchange.
Acquisition of Crackingstone Property
The Company is also pleased to announced that it has closed its acquisition of the Crackingstone Uranium Property in Saskatchewan (the "Property"), pursuant to the terms of a mineral purchase agreement (the "Agreement") with St. Jacques Mineral Corp. (the "Vendor"). The Property consists of nine mineral dispositions, totaling 3,336 hectares, located in the Northern Mining District, Saskatchewan.
Under the terms of the Agreement, the Company paid $10,000 to the Vendor and issued a total of 2,250,000 common shares of the Company. The Company will also be required to incur a total of $500,000 of exploration expenditures within 18 months of the day of the Agreement (the "Exploration Commitment"). In the event that the Company does not satisfy the Exploration Commitment, the Property will be returned to the Vendor.
In connection with closing the transaction, the Company issued a finder a total of 220,000 common shares of the Company.
The Vendor will also hold a 1% Net Smelter Royalty, which may be purchased by the Company at a cost of $1,000,000.
For more information, please contact James Walchuck, CEO and President, at (604) 683-0911.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKRIDGE CAPITAL CORP.
James Walchuck, CEO and President
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Rockridge Capital Corp.