Rocky Shore Gold Completes First Tranche of Private Placement

Rocky Shore Gold Ltd. has completed the initial phase of its non-brokered private placement, generating gross proceeds of C$4.8 million. The company issued 27.4 million units priced at $0.175 each. Each unit includes a common share and a warrant, allowing the purchase of another common share at $0.30 until February 2029.

The funds raised will support general corporate activities and advance the Gold Anchor Project in central Newfoundland. Finder's fees were paid, and a total of 1,023,543 warrants were granted to eligible finders.

Insiders purchased 2.9 million units, but this related party transaction was exempt from certain regulatory requirements due to its scale relative to the company's market capitalization.

Northfield Capital Corporation acquired 2.6 million units, increasing its stake to 16.9% of Rocky Shore's outstanding common shares.