By Laura Lutz
Des Moines, May 3 - Rochester Resources Ltd. arranged a private placement of units for C$1.75 million.
The non-brokered placement will include 700,000 units of one share and one transferable warrant at C$2.50 per unit. Each warrant will be exercisable at C$2.75 for 18 months.
Three funds managed by Burlingame Asset Management, LLC have agreed to buy the units.
Vancouver, B.C.-based Rochester is a gold and silver exploration and development company.
| Issuer: | Rochester Resources Ltd.
|
| Issue: | Units of one share and one transferable warrant
|
| Amount: | C$1.75 million
|
| Units: | 700,000
|
| Price: | C$2.50
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.75
|
| Agent: | Non-brokered
|
| Investors: | Three funds managed by Burlingame Asset Management, LLC
|
| Pricing date: | May 3
|
| Stock symbol: | TSX Venture: RCT
|
| Stock price: | C$2.30 at close May 2
|
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