By Susanna Moon
Chicago, June 7- Roxmark Mines Ltd. settled a C$1 million private placement with MineralFields Group, according to a press release.
The non-brokered placement is a sale of 3,773,584 flow-through units at C$0.265 each.
Each unit consists of one flow-through common share and one common share purchase warrant. Each warrant allows the holder to buy one common share at a price of C$0.40 for the first year and at C$0.55 for the second year.
The securities are subject to certain resale restrictions that prevent the securities from being traded for a four-month period.
Proceeds will be used to fund exploration and development.
MineralFields is a Toronto-based mining company.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Units of flow-through shares and warrants
|
| Amount: | C$1 million
|
| Units: | 3,773,584
|
| Price: | C$0.265
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 for first year, C$0.55 for second year
|
| Placement agent: | Non-brokered
|
| Investor: | MineralFields Group
|
| Settlement date: | June 7
|
| Stock symbol: | CNQ: RMKL
|
| Stock price: | C$0.22 at close June 6
|
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