Rockridge Provides Update on Recent Marketing Activity
VANCOUVER, British Columbia, Jan. 24, 2020 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) announces that it has been requested by the OTC Markets Group Inc. (“OTC”) to comment on
recent marketing activity concerning its common shares traded on the OTCQB marketplace.
The Company engaged GRA Enterprises LLC (the “Consultant”) to provide the following services: dissemination of news releases and newsworthy related events, communications and media services, the production and publication of investor bulletins on the National Inflation Association website, and distribution of e-mail alerts to the Consultant’s National Inflation e-mail list about the Company and its projects. In consideration of these services, the Company has paid the Consultant an upfront cash fee of US$30,000 for a 6-month contract. On January 22, 2020 and January 23, 2020, the Consultant profiled Rockridge to its e-mail subscriber list.
The Company and its officers, directors and controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) did not have editorial control over the materials, although the Company did review a draft for any factual inaccuracies about the Company. The Company is not able to determine whether the materials had any material impact on the trading of the Company’s common shares. The Consultant is an arm’s length party to the Company. The materials prepared by the Consultant presented a general overview of the Company’s business and operations and its potential. The OTC believes that the materials may have included speculative language and forward-looking statements about the Company’s future prospects.
Rockridge’s share price and trading volume have increased since the beginning of the year. The Company believes that this is an industry-wide trend due to increases in the prices of gold and copper during December 2019 and January 2020. The recent increased trading activity could also be attributed to an upcoming diamond drill program at the Company’s Raney Gold Project in Ontario (see Company News Releases dated December 5th, 2019 and January 13th, 2020).
Upon inquiry of the Company’s management, directors, control persons and third-party service providers, to the best of the Company’s knowledge during the past 90 days, two officers purchased and sold securities of the Company. However, to the best of the Company’s knowledge, no management, directors, control persons and third-party service providers have purchased or sold securities of the Company since the Company engaged the Consultant. During the prior 90 days, the Company completed a private placement financing in December 2019 (the aforementioned two officers participated in this financing) which closed at or around the market price on the date of closing and the securities issued were subject to a statutory hold period expiring four months and one day after the closing. The officers have reported their purchases of the securities on the System for Electronic Disclosure by Insiders (“SEDI”) at www.sedi.ca in compliance with insider reporting requirements under applicable securities laws. All directors, officers and controlling shareholders of the Company are required to report their purchase and sales of Company securities on SEDI and, to the knowledge of the Company, such filings are up to date in this regard.