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Published on 9/24/2008 in the Prospect News PIPE Daily.

New Issue: Rochester Resources concludes C$1 million placement of units

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.
Issue:Units of one share and one half-share warrant
Amount:C$1,000,350
Units:2,223,000
Price:C$0.45
Warrants:One half-share warrant per unit
Warrant expiration:Two years
Warrant strike price:C$0.75
Agent:Canaccord Capital Corp.
Settlement date:Sept. 22 (for C$900,000), Sept. 24 (for C$100,350)
Stock symbol:TSX Venture: RCT
Stock price:C$0.48 at close Sept. 22

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