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Published in House and Home on Monday, March 2nd 2009 at 14:14 GMT, Last Modified on 2009-03-02 14:15:49 by Market WireVAUDREUIL-DORION, QUEBEC--(Marketwire - March 2, 2009) - Subject to the approval of the TSX Venture Stock Exchange Rocmec Mining Inc. (TSX VENTURE:RMI)(FRANKFURT:D5O), Rocmec is pleased that it has closed a non-brokered private placement of 8,000,000 units, at a price of $0.10 per unit, for gross proceeds of $800,000. Each unit is comprised of one flow-through common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder thereof to purchase one additional common share of Rocmec, at a price of $0.12 per common share, for a period of 24 months following the closing of the private placement.
In connection with the private placement, a cash commission of $21,000 was paid to a person dealing entirely at arm's length with the Company. In addition, a total of 400,000 non transferable broker warrants were issued. Each broker warrant entitles its holder to purchase one common share of Rocmec, at a price of 0.10 per common share, for a period of 24 months following the closing of the private placement.
The private placement is subject to the final approval of the TSX Venture Exchange and of the regulatory authorities having jurisdiction on the Company's securities. The securities issued in connection with the private placements are subject to certain resale restrictions which require that the securities not be traded for a period of four months plus one day.
Proceeds will be employed to further the development of the company's Rocmec 1 property located in Rouyn-Noranda, Quebec.
Futhermore, Rocmec announces that a commission payable to Pinetree Resources Partnership pertaining to a financing (see press release dated January 20th, 2009) was not paid considering the non-arm's length relationship between Pinetree Resources Partnership and clients.
About Rocmec
Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow high-grade precious metal quartz vein properties. The Company is listed on the TSX Venture Exchange and trades under the symbol: RMI
Rocmec's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value. Exploitation of narrow high-grade precious metal quartz veins with its exclusive thermal fragmentation process coupled with conventional mining methods will lead the Company in becoming a mid-size gold producer. The acquisition, development and future exploitation activities at the recently acquired Rocmec I (Russian Kid) property are an excellent example of this strategy.
"Thermal fragmentation - an innovative process for mining narrow high-grade ore bodies"
The Thermal Fragmentation Mining Method video can be viewed on Rocmec's website or by clicking the following link: [ http://www.rocmecmines.com/video_an.asp ].
Neither 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.
