|Thu Dec 23, 2004|
| ||ROK #26-04|
Vancouver, British Columbia, December 23, 2004: Roca Mines Inc. (the "Company") has arranged a private placement of 1.75 million units ("Units") at a price of $0.30 per Unit for gross proceeds of $525,000. Each Unit is to consist of one common share and one share purchase warrant ("Warrant"), each Warrant entitling the holder to purchase one common share for one year at a price of $0.35 during the first six months, and at $0.40 during the second six months following closing. Canaccord Capital Corporation and Bolder Investment Partners Ltd. (the "Agents") will act as co-agents on the financing. The Agents will receive an over-allotment option of up to 330,000 Units for an additional $99,000 in gross proceeds, and will be paid an 8% commission payable in cash or Units, and 8% Agent's warrants with the same terms as the Warrants. Canaccord will also receive a corporate finance fee of 40,000 Units.
Proceeds of this offering will be used for general working capital and exploration reserves. The private placement is subject to approval by the TSX Venture Exchange.
ROCA MINES INC.
David J. Skerlec - Chief Financial Officer
For further information contact the Company at:
Email: [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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