Rocky Shore Gold closes $5.2M flow-through share placement

Rocky Shore Gold Ltd. (CSE: RSG) has closed the second and final tranche of its non-brokered private placement, raising gross proceeds of $1,977,925.50 through the issuance of 13,186,170 flow-through shares at C$0.15 per share.

In total, the offering raised aggregate gross proceeds of $5,205,375.60 through the issuance of 34,702,504 flow-through shares. The company said it expanded the size of the offering to accommodate additional investor interest, with consent from the Canadian Securities Exchange.

Proceeds are designated for exploration and advancement of the company's projects in central Newfoundland.

In connection with the final tranche closing, Rocky Shore Gold issued 682,170 finder's warrants to eligible finders. Each warrant is exercisable to acquire one common share at $0.15 per share until April 15, 2028.

Securities issued under the final tranche are subject to a statutory hold period expiring February 16, 2027.

Company insiders acquired 270,000 flow-through shares in the final tranche for approximately $40,500, constituting a related party transaction under Multilateral Instrument 61-101. The company said the participation qualifies for exemptions from formal valuation and minority shareholder approval requirements, as the value involved does not exceed 25% of the company's market capitalization.

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