By Sheri Kasprzak
New York, March 24 - Roxmark Mines Ltd. has concluded the final tranche of a non-brokered private placement for C$1,184,400.
The company issued a total of 9.87 million units at C$0.12 each.
In the second and last tranche, Roxmark issued 7,133,333 units.
The units are comprised of one share and one warrant with each warrant exercisable at C$0.17 through March 17, 2008.
Proceeds will be used for exploration on the company's gold and molybdenum properties in the Geraldton-Beardmore mining camp in Ontario. The remainder of the proceeds will be used for working capital.
Separately, Roxmark said it granted stock options for 500,000 shares to its vice president of operations, Louis Bernard.
Based in Toronto, Roxmark is a mineral exploration company focused on gold and molybdenum.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,184,400
|
| Units: | 9.87 million
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| Price: | C$0.12
|
| Warrants: | One warrant per unit
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| Warrant expiration: | March 17, 2008
|
| Warrant strike price: | C$0.17
|
| Placement agent: | Non-brokered
|
| Settlement date: | March 24
|
| Stock symbol: | CNQ: RMKL
|
| Stock price: | C$0.13 at close March 23
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