By Devika Patel
Knoxville, Tenn., Sept. 24- Rochester Resources Ltd. announced it took in C$1 million from a private placement of units. The company raised C$900,000 in the first tranche on Sept. 22 and settled the second and final tranche Wednesday for C$100,350.
The company sold 2,223,000 units of one share and one half-share warrant at C$0.45 per unit. It sold 2 million units in the first tranche and 223,000 units in the second tranche.
Each whole warrant will be exercisable at C$0.75 for two years.
Canaccord Capital Corp. was the agent.
Vancouver, B.C.-based Rochester is a gold and silver exploration and development company.
Issuer: | Rochester Resources Ltd.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$1,000,350
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Units: | 2,223,000
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Price: | C$0.45
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.75
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Agent: | Canaccord Capital Corp.
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Settlement date: | Sept. 22 (for C$900,000), Sept. 24 (for C$100,350)
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Stock symbol: | TSX Venture: RCT
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Stock price: | C$0.48 at close Sept. 22
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