By Devika Patel
Knoxville, Tenn., Oct. 26 - Rocmec Mining Inc. said it plans a non-brokered private placement of units to raise C$1.56 million.
Rocmec will sell 8,652,500 flow-through units at C$0.18 apiece to HDL Capital Corp. Each unit will consist of one flow-through common share and one transferable non flow-through warrant. Each two-year warrant will be exercisable at C$0.25 for the first year and C$0.30 for the second.
HDL Capital will be paid a 6% cash finder's fee and finder's options equal to 10% of the number of units sold. The options are issued under the same terms as the warrants issued in the deal.
Proceeds will be used for development.
Based in Pointe-Claire, Quebec, Rocmec is a precious metals exploration company.
| Issuer: | Rocmec Mining Inc.
|
| Issue: | Flow-through units of one flow-through common share and one transferable non flow-through warrant
|
| Amount: | C$1,557,400
|
| Units: | 8,652,500
|
| Price: | C$0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25 (first year); C$0.30 (second year)
|
| Investor: | HDL Capital Corp.
|
| Fees: | 6% cash; finder's options equal to 10% of the units sold
|
| Pricing date: | Oct. 26
|
| Stock symbol: | TSX Venture: RMI
|
| Stock price: | C$0.14 at close Oct. 26
|
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