By Sheri Kasprzak
Atlanta, June 15 - Roca Mines Inc. said it plans to raise up to C$1.05 million in a private placement of units.
The deal includes up to 3.5 million flow-through units at C$0.30 each.
The units include one flow-through share and one half-share warrant. The whole warrants allow for an additional non flow-through share at C$0.35 each for the first six months and C$0.40 each for the remaining six months.
Based in Vancouver, B.C., Roca is a mineral exploration company. The proceeds will be used for exploration on the company's MAX Molybdenum project in British Columbia and the Foremore VMS gold project in British Columbia.
Issuer: | Roca Mines Inc.
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Issue: | Flow-through units
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Amount: | C$1.05 million (maximum)
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Units: | 3.5 million (maximum)
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Price: | C$0.30
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.35 for first six months; C$0.40 for second six months
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Pricing date: | June 15
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Stock price: | C$0.26 at close June 15
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