Rocky Shore Gold to raise up to $1.5 million in private placement

TORONTO - Rocky Shore Gold Ltd. (CSE:RSG), a company currently valued at $73.44 billion with a perfect Piotroski Score of 9 according to InvestingPro, announced Monday it is undertaking a non-brokered private placement to raise up to $1.5 million through the sale of units and flow-through shares priced at $0.05 each.

Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant entitles the holder to acquire one common share at $0.10 for three years following the closing date, subject to accelerated expiry terms.

Proceeds from the units will be used for general corporate purposes, while proceeds from the flow-through shares will fund exploration at the company’s Gold Anchor Project in central Newfoundland.

The securities issued will have a four-month and one-day hold period from the date of issuance. The company may pay finder’s fees on a portion of the offering, and insiders may participate in the placement.

According to the press release statement, Rocky Shore plans to use the funds for an inaugural fall drill program at the Lane Pond Gold Target within its Gold Anchor Project. The company intends to complete up to 5,000 meters of drilling in 30-50 shallow holes.

The Lane Pond Gold Target extends over 11 kilometers and is located along the Appleton Fault Corridor. The company is currently conducting additional sampling and an IP geophysical survey to identify priority drilling areas.

Rocky Shore Gold’s Gold Anchor Project covers more than 1,200 square kilometers in central Newfoundland. The company acknowledged financial support from the 2025 Junior Exploration Assistance Program from the Government of Newfoundland and Labrador.

In other recent news, Republic Services has reported significant financial developments. The company exceeded consensus estimates for adjusted EBITDA and EPS in the second quarter, despite sales falling below expectations. This performance was highlighted by a 120 basis point improvement in solid waste margins year-over-year. BMO Capital responded to these strong results by raising its price target for Republic Services to $284, maintaining an Outperform rating. Similarly, Scotiabank increased its price target to $260, citing a solid outlook and positioning estimates above the company’s guidance ranges. Meanwhile, TD Cowen expressed concerns over weakening volumes, lowering its price target to $250 while keeping a Hold rating. Oppenheimer maintained its Outperform rating and a $268 price target, reflecting confidence in the company’s performance. Additionally, S&P Global Ratings upgraded Republic Services to an ’A-’ rating from ’BBB+’, attributing this to improved credit metrics. These developments provide a comprehensive view of Republic Services’ current financial standing and analyst perspectives.

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