By Sheri Kasprzak
Atlanta, Nov. 15 - Roxmark Mines Ltd. has raised C$2,611,000 in the first tranche of a private placement, the company said Monday.
The company sold 19,628,332 class B units of one share and one purchase warrant at C$0.12 and 1,709,334 class A units of one flow-through share and one half common share warrant at C$0.15.
The whole class B warrants allow for the purchase of a common share at C$0.17 until Nov. 8, 2006. The whole class A warrants allow for the purchase of a common share at C$0.17 until Nov. 8, 2005.
The deal was originally announced Oct. 29.
The securities issued in the offering are subject to a four-month hold, which expires March 9, 2005.
Roxmark, based in Toronto, is a gold mining company. About C$2 million of the money raised in the deal will fund gold and molybdenum exploration while the balance of the proceeds will be used for general working capital.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Class B units of one share and one warrant and class A units of one flow-through share and one warrant
|
| Amount: | C$2,611,000
|
| Announcement date: | Oct. 29
|
| Settlement date: | Nov. 15
|
| Stock price: | C$0.105 at close Nov. 12
|
|
|
| Class B units
|
| Issue: | Class B units of one common share and one purchase warrant
|
| Shares: | 19,628,332
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Nov. 8, 2006
|
| Warrant strike price: | C$0.17
|
|
|
| Class A units
|
| Issue: | Class A units of one flow-through share and one purchase warrant
|
| Shares: | 1,709,334 units
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Nov. 8, 2005
|
| Warrant strike price: | C$0.17
|
|
|
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