| ||Tue Aug 7, 2007|
Roca Closes Bought Deal Financing
| ||Vancouver, British Columbia: Roca Mines Inc. (ROK: TSX-V) (the "Company") announces, further to its press release of July 11, 2007, that the bought deal private placement has now closed for gross proceeds of $13,006,200.|
The private placement, which was comprised of 4,090,000 units at a price of $3.18 per unit (the "Offering"), was undertaken by Desjardins Securities Inc. (the "Underwriter"). Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $4.00 at any time until August 7, 2009.
In connection with the Offering, the Underwriter received a cash commission in an amount equal to 6% of the gross proceeds of the Offering and underwriter's warrants to purchase up to 245,400 common shares at a price of $3.18 per share until August 7, 2008. The Company has also granted the Underwriter an over-allotment option to purchase from the Company, up to an additional 15% of the Offering at any time up to 2:00 pm (Vancouver time) for 30 days from today's date. All securities issued under the Offering are subject to a hold period expiring on December 8, 2007.
About Roca Mines Inc.
ROCA Mines Inc. 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 later 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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