TSX Venture Exchange: RBE
VANCOUVER, Oct. 3, 2018 /CNW/ – RockBridge Resources Inc. (“RockBridge” or the “Company” – TSXV symbol: RBE) provides the following update on certain corporate matters.
Previously Announced Private Placement
The Company has now closed the second tranche of its previously announced $250,000 private placement with the issuance of 833,333 shares at $0.06 each for gross proceeds of $50,000. The shares are subject to a four month hold from the date of issuance.
Sale of Natural Gas Wells
RockBridge has agreed to sell all of its interest in the natural gas wells located in the Clarke Lake area of British Columbia to WhiskeyJack Energy Inc., a company controlled by Steve Mathiesen and Gary Mathiesen, current officers of the Company, for consideration of $100.00 plus assumption of any and all related liabilities, including the $61,236 of abandonment provisions recorded on the Company's financial statements. The sale and transfer is on an “as is, where is” basis and will be effective September 30, 2018 and is subject to any required shareholder and regulatory approvals.
Stock Option Grant
The Company has now granted 400,000 stock options to a director and officer. The stock options are exercisable for an aggregate of 400,000 shares, and are exercisable for one year at a price of $0.205 per share.
The Company also announces that Adrian van de Mosselaer has resigned as a director and the Company thanks him very much for his years of service.
ROCKBRIDGE RESOURCES INC.
Rana Vig, CEO
This news release may include statements about expected future events that are forward-looking in nature and subject to risks and uncertainties. RockBridge cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events may vary substantially from what RockBridge currently anticipates. Discussion on the various factors that may affect future results is contained in RockBridge's recent filings, available on SEDAR.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE RockBridge Resources Inc.
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