By Laura Lutz
Washington, Dec. 20 - Roxmark Mines Ltd.'s board approved a private placement of units for up to C$1 million.
The company plans to sell up to 4,166,667 units of one flow-through share and one warrant at C$0.24 per unit. Each warrant will be exercisable for one non flow-through share for two years, at C$0.29 in the first year and at C$0.35 in the second year.
Settlement is expected on Dec. 29.
The company says it has raised more than $4.4 million in 2006 from private placements.
Proceeds will be used for the company's work programs.
Roxmark is a resource exploration and development company based in Toronto.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Units of one flow-through share and one non flow-through warrant
|
| Amount: | C$1 million
|
| Units: | 4,166,667
|
| Price: | C$0.24
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.29 in the first year; C$0.35 in the second year
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 29
|
| Stock symbol: | CNQ: RMKL
|
| Stock price: | C$0.235 at close Dec. 20
|
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