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| | Mon May 9, 2011
ROCA Closes $2.5 million Financing
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| | Vancouver, British Columbia: Roca Mines Inc. (TSX-V: ROK) ("Roca" or the "Company") announces that it has closed the $2.5 million private placement announced on April 28, 2011 with strategic investor SeAH Holdings Corp.
10 million units of the Company have been issued at a price of $0.25 per unit, each unit consisting of one common share and one half of a transferable common share purchase warrant. Each full warrant entitles the holder to purchase an additional common share of the Company at a price of $0.30 through May 9, 2012. All securities issued under this private placement are subject to hold period expiring September 10, 2011.
About SeAH Holdings Corp. - SeAH is a public company listed on the Korean stock exchange. SeAH is the holding company of SeAH Group, established in 2001 by separating SeAH Steel's investment sector and is based in Seoul, South Korea. SeAH has 18 domestic and 13 overseas subsidiaries/operations with business areas in special steel producing, pipe manufacturing, IT and energy. SeAH Besteel Corp., the largest subsidiary of SeAH, is known as the #1 special steel maker in Korea and the company mainly produces automotive parts and shipbuilding parts for globally renowned automakers and shipbuilders
The Company's various contractors and employees are working towards restarting production at the MAX molybdenum mine and continue to advance its permitted 1,000-tonne-per-day expansion plans. Molybdenum oxide currently trades at approximately US$17.00 per pound.
ROCA MINES INC.
"David Skerlec"
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David J. Skerlec -- Chief Financial Officer
For further information contact:
Tel: 604-684-2900
Fax: 604-684-2902
Email: [email protected]
Web: www.rocamines.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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| | You can view the Next News Releases item: Tue Jun 28, 2011, ROCA - MAX Molybdenum Mine Production Schedule
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