By Devika Patel
Knoxville, Tenn., Feb. 4- Rochester Resources Ltd. announced it took in C$1.05 million in a private placement of shares. The company also said it plans to raise C$2.5 million by selling units.
The company sold 7 million shares to E-Energy Ventures Inc. and Cooper Minerals Inc., with each investor buying 3.5 million shares.
The company also plans to sell 10 million units of one share and one half-share warrant at C$0.25 per unit.
Each whole warrant will be exercisable at C$0.45 for 18 months.
Canaccord Capital Corp. will be the agent for C$1 million of the units.
Vancouver, B.C.-based Rochester is a gold and silver exploration and development company.
| Issuer: | Rochester Resources Ltd.
|
| Issue: | Stock, units of one share and one half-share warrant
|
| Amount: | C$3.55 million
|
| Stock symbol: | TSX Venture: RCT
|
| Stock price: | C$0.32 at close Feb. 3
|
|
|
| Shares
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| Amount: | C$1.05 million
|
| Shares: | 7 million
|
| Warrants: | No
|
| Investors: | E-Energy Ventures Inc. (for C$525,000) and Cooper Minerals Inc. (for C$525,000)
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| Settlement date: | Feb. 4
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|
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| Units
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| Amount: | C$2.5 million
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| Units: | 10 million
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.45
|
| Agent: | Canaccord Capital Corp. (for C$1 million)
|
| Pricing date: | Feb. 4
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