Rover Metals Announces Intent to Re-price Previously Issued Warrants

VANCOUVER, British Columbia, Jan. 03, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces its intent to apply to the Toronto Venture Exchange (the “TSXV”) to re-price and extend previously issued warrants.

Terms of the Warrant Re-pricing Application

On a post-consolidation basis (see October 28, 2022 release), the Company has 3,272,719 common share purchase warrants outstanding, from previous private placement financings, with an exercise price of $0.45 (the “$0.45 Warrants”). The Company is applying to amend the $0.45 Warrants such that these warrants will have their useful lives extended to May 2025, and have their exercise price re-priced down to $0.20 per warrant share.

On a post-consolidation basis (see October 28, 2022 release), the Company has 1,382,503 common share purchase warrants outstanding, from previous private placement financings, with an exercise price of $0.72 (the “$0.72 Warrants”). The Company is applying to amend the $0.72 Warrants such that these warrants will have their useful lives extended to May 2025, and have their exercise price re-priced down to $0.20 per warrant share.

On a post-consolidation basis (see October 28, 2022 release), the Company has 6,517,037 common share purchase warrants outstanding, from previous private placement financings, with an exercise price of $0.90 (the “$0.90 Warrants”). The Company is applying to amend the $0.90 Warrants such that these warrants will have their useful lives extended to May 2025, and have their exercise price re-priced down to $0.15 per warrant share.

A total of 11,172,259 outstanding warrants are included in the aforementioned warrant re-pricing application. Re-pricing of the warrants is subject to TSXV approval. This is an initial release, and an updating release will be provided once the Company has received TSXV approval for the re-pricing.

About Rover Metals
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go Lithium project.

The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of Canada and the U.S.

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ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: [email protected]
Phone: +1 (778) 754-2855

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

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