|March 29, 2012|
Rockridge Updates Mali Status; Closes non-brokered private placement
Vancouver, B.C., March 29, 2012 - Rockridge Capital Corp. (TSX-V:RRC) (the "Company" or "Rockridge") reported today that its operations at the Fatou Gold Project in Mali continue uninterrupted by the political turmoil in the capital city of Bamako. Rockridge's operations at Fatou are located in southern Mali, approximately 250 km southeast of the capital city of Bamako, and approximately 20 km north of the border between Mali and Cote d'Ivoire.
Rockridge's President, Karl Kottmeier commented "I am pleased to report that as of March 27th, Bamako International Airport and Mali's borders have been reopened. After five days of suspension of our re-supply routines, we have received confirmation from our Country Manager that regular shipments are now being delivered to and from Fatou. Our operating team at Fatou has done an excellent job, keeping our RC and diamond drilling program underway without interruption. We remain vigilant in monitoring the unfolding events in Mali and maintaining the safety and security of our field and office personnel."
In separate news, further to the Company's news release of February 29, 2012, the non-brokered private placement for gross proceeds of $1.5 million was completed and closed on March 29, 2012. Rockridge issued 6,000,000 Units at $0.25 per Unit. Each Unit consisted of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitles the purchaser to purchase an additional common share at a price of $0.35 per share for a period of eighteen months. The net proceeds of the financing will be added general working capital. Shares acquired by the places, and shares which may be acquired upon the exercise of the share purchase warrants, are subject to a hold period until July 30, 2012. In accordance with the policies of the TSX Venture Exchange, finder's fees of $90,000 were paid, and 360,000 compensation warrants issued in connection with the private placement.
For more information please contact Kirk Gamley, VP Corporate Development at (604) 678 8941. Please visit our website at www.rockridgecapitalcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ROCKRIDGE CAPITAL CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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