/NOT FOR DISTRIBUTION TO THE
Each Subscription Receipt will entitle the holder thereof to receive, upon the satisfaction of certain conditions, including the completion of the Acquisition (as defined below), and without payment of additional consideration or further action, one unit (a "Unit"), consisting of one common share of the Company (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of
The Company has granted the Underwriters an option to purchase up to an additional 15% of the Subscription Receipts at the Issue Price. The Over-Allotment Option may be exercised in whole or in part to purchase Subscription Receipts as determined by the Underwriters upon written notice to the Company at any time up to 30 days following the Closing Date (the "Over-Allotment Option").
The Company will use the net proceeds from the Offering to fund a portion of the cash consideration of the acquisition of certain oil & gas assets from
The Offering will be completed (i) by way of a short form prospectus of the Company to be filed in the provinces of
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in
The Offering is expected to close on or about
ROK is primarily engaged in exploring for petroleum and natural gas development activities in
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals, or future plans with respect to pursuing the objectives and the expectations regarding the expected results thereof. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic and social uncertainties; litigation, legislative, environmental, and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
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