3 June 2020
Rover Metals announces that it intends to apply to the Toronto Venture Exchange to settle up to $136,200 in trade payables to improve the company’s working capital position. The Company has entered into agreements with certain vendors and officers and advisors of the Company to settle the $136,200 in trade payables through the issuance of common shares at a price of $0.05 per common share, which would result in the issuance of 2,724,000 common shares. Officers and advisors of the Company account for $121,200 of the debt settlement application, or 2,424,000 common shares. The remaining debt settlement relates to an arm’s length vendor.
Approval of the debt settlements is subject to approval by the TSXV. An updating press release will be issued, if and when, approval is obtained from the TSXV. Any future issuances of shares related to this debt settlement application will be subject to a minimum of the four month regulatory hold period from date of approval, pursuant to TSXV policies on shares for debt settlements.
Exploration Plans
Rover Metals will be submitting an application to the Government of the Northwest Territories’ Mining Incentive Program on Friday June 5th to apply for a territorial government funding grant for summer 2020 exploration work at its Cabin Lake Group of Gold projects.