By Sheri Kasprzak
New York, Jan. 23 - Rochester Resources Ltd. said it has concluded a C$1.5 million private placement of units.
The company issued 3 million units of one share and one half-share warrant.
The full warrants are exercisable at C$0.65 each for two years. Rochester may force the exercise of the warrants if its stock trades above C$1.00 for more than 10 consecutive trading days.
Canaccord Capital Corp. was the placement agent.
Based in Vancouver, B.C., Rochester is a mineral exploration company.
| Issuer: | Rochester Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.5 million
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| Units: | 3 million
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| Price: | C$0.50
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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$0.65
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| Placement agent: | Canaccord Capital Corp.
|
| Settlement date: | Jan. 20
|
| Stock symbol: | TSX Venture: RCT
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| Stock price: | C$0.82 at close Jan. 20
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