By Laura Lutz
Washington, Feb. 9 - Roca Mines Inc. closed the final tranche of a private placement of units, bringing the total deal size to C$4.44 million.
In total, the company sold 3,171,429 units at C$1.40 each.
Each unit is made up of one common share and one share purchase warrant. Warrants are exercisable at C$2.25 for 18 months.
The non-brokered placement was announced on Dec. 21 as an offering of up to 5 million units for up to C$7 million.
Roca completed a first tranche of the placement for C$2.56 million on Jan. 5.
The company will use the proceeds to continue development of Roca's Max Molybdenum Mine near Trout Lake, B.C.
Vancouver, B.C.-based Roca Mines hopes, among its other mining projects, to be the first new primary molybdenum producer in Canada.
| Issuer: | Roca Mines Inc.
|
| Issue: | Units of stock and warrants
|
| Amount: | C$4.44 million
|
| Units: | 3,171,429
|
| Price: | C$1.40
|
| Warrants: | 1 per unit
|
| Warrant strike price: | C$2.25
|
| Warrant term: | 18 months
|
| Agent: | Non-brokered
|
| Announcement date: | Dec. 21
|
| Settlement date: | Jan. 5 (first tranche); Feb. 9 (final tranche)
|
| Stock symbol: | TSX Venture: ROK
|
| Stock price: | C$1.40 at close Dec. 21
|
| Stock price: | C$1.51 at close Jan. 5
|
| Stock price: | C$1.37 at close Feb. 9
|
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