Investor SeAH Holdings plans to buy 10 million units at C$0.25 apiece
By Devika Patel
Knoxville, Tenn., April 28 - Roca Mines Inc. said it plans a C$2.5 million private placement of units.
The company will sell 10 million units of one common share and a half-share warrant at C$0.25 apiece to SeAH Holdings Corp.
Each full warrant is exercisable at C$0.30 for one year. The strike price represents a 22.45% premium to the April 27 closing share price of C$0.245.
Proceeds will be used to resume production at the MAX molybdenum mine and for general working capital.
Roca is a molybdenum mining and exploration company based in Vancouver, B.C.
| Issuer: | Roca Mines Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 10 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Investor: | SeAH Holdings Corp.
|
| Pricing date: | April 28
|
| Stock symbol: | TSX Venture: ROK
|
| Stock price: | C$0.23 at close April 28
|
| Market capitalization: | C$26.19 million
|
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