By Devika Patel
Knoxville, Tenn., July 16 - Roxmark Mines Ltd. announced it has completed a private placement of C$1 million with MineralFields Group.
Roxmark issued 5 million flow-through units at C$0.20 per unit. Each unit consists of one flow-through share and one share warrant. Each warrant is exercisable at C$0.40 until July 13, 2008 and at C$0.55 thereafter until July 13, 2009.
The securities are subject to a four-month hold period until Nov. 14.
Roxmark paid a 5% finder's fee to Limited Market Dealer Inc. and granted 500,000 non-transferable finder's warrants, each exercisable at C$0.20 until July 13, 2009 to acquire one share and one share purchase warrant. The purchase warrants are exercisable at C$0.40 until July 13, 2008 and at C$0.55 thereafter until July 13, 2009.
Proceeds will be used for exploration and development.
Roxmark is a resource exploration and development company based in Toronto.
MineralFields is a Toronto-based mining fund.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Units of one flow-through share and one share warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 for first year, C$0.55 for second year
|
| Investor: | MineralFields Group
|
| Settlement date: | July 16
|
| Stock symbol: | CNQ: RMKL
|
| Stock price: | C$0.18 at close July 13
|
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