| ||Wed Jul 11, 2007|
ROCA ANNOUNCES BOUGHT DEAL FINANCING
| ||NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES|
Vancouver, British Columbia: Roca Mines Inc. (ROK: TSX-V) ("Roca" or the "Company") confirms an agreement with a syndicate of underwriters led by Desjardins Securities Inc. (collectively, the "Underwriters") to raise $13,006,200 on a bought deal basis consisting of a private placement of 4,090,000 Units at a price of $3.18 per Unit. Each Unit is comprised of one common share (a "Share") and one-half of one Share purchase warrant (each whole Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Share at a price of $4.00 at any time for a period of 24 months from the date of the closing of the Offering.
The Company has granted the Underwriters an Over-Allotment Option to purchase from the Company, up to an additional 15% of the Offering at any time up to 5:00pm (Toronto time) on the day which is 30 days following the Closing Date.
In connection with the Offering, the Underwriters will receive on Closing, a cash commission of 6% of the gross proceeds and a number of broker warrants equal to 6% of the number of Units sold under the Offering. Each broker warrant will entitle the holder thereof to acquire one common share at the issue price of the Units for a period of 12 months from the date of issuance of the broker warrants.
Closing of the transaction is expected to occur on or about August 1, 2007 and is subject to normal regulatory approvals. The net proceeds of the Offering will be for acceleration and expansion of mine development at the Max Molybdenum Project in British Columbia, for exploration and for general corporate purposes. It remains subject to the execution of an underwriting agreement, TSX Venture Exchange approval and other usual conditions.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Roca Mines Inc.
ROCA Mines Inc. (ROK: TSX-V) is a mining and exploration company focused on the outstanding mineral potential located within British Columbia. Roca's primary project is the MAX Molybdenum Project, permitted and targeting for initial molybdenum concentrate production in August-2007.
ROCA MINES INC.
David J. Skerlec -- Chief Financial Officer
For further information contact:
Email: [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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