By Sheri Kasprzak
Atlanta, Jan. 24 - Roxmark Mines Ltd. has closed a private placement for C$3,468,900.
In the third and final tranche of the deal, for C$561,500, the company sold 4,585,000 class B units at C$0.12 each and 70,000 class A units at C$0.15 each.
The class B units consist of one share and one warrant, and the class A units are comprised of one flow-through share and one half-share warrant.
The class B warrants allow for an additional share at C$0.17 for two years.
The whole class A warrants allow for an additional share at C$0.17 for one year.
The first tranche of the offering for C$2,611,000 was closed Nov. 15, and the second tranche for C$296,400 was closed Dec. 6.
In other news at Roxmark, the company said it plans to acquire four mining claims in Ontario. The claims surround the company's current 16-claim, 640-acre Nortoba-Tyson molybdenum and gold property.
The Toronto-based Roxmark Mines is a gold exploration and development company. It plans to use the proceeds from the offering to advance its gold and molybdenum properties in the Geraldton-Beardmore mining camp. The remainder of the funds will be used for general working capital.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Class B and class A units
|
| Amount: | C$561,500
|
| Announcement date: | Oct. 29
|
| Settlement date: | Jan. 24
|
| Stock price: | C$0.145 at close Jan. 18 (last trade)
|
|
|
| Class B units
|
| Issue: | Class B units of one share and one warrant
|
| Units: | 4,585,000
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.17
|
|
|
| Class A units
|
| Issue: | Class A units of one flow-through share and one half-share warrant
|
| Units: | 70,000
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.17
|
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