| ||Tue Jan 27, 2009|
Roca Closes First Tranche of Financing
| ||Vancouver, British Columbia: Roca Mines Inc. (ROK: TSX-V) announces that, further to its press release of January 16, 2009, it has closed the first tranche of the private placement for gross proceeds of $1.4 million upon the issuance of 5,600,000 units.|
Each unit issued consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire an additional common share until January 27, 2011 at a price of $0.35. Cash finder's fees in the amount of $93,200 were paid and 66,000 compensation warrants (with the same terms as those issued to the placees) were issued in connection with the first tranche. All securities issued are subject to a hold period expiring on May 28, 2009.
It is expected that the balance of the offering will close on or about February 15, 2009. Proceeds from this financing will be used for general working capital.
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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