Rocmec Mining Inc.: Rocmec Mining Inc. Completes First Tranche of a Brokered Private Placement

Published in House and Home on Thursday, May 28th 2009 at 14:57 GMT, Last Modified on 2009-05-28 14:59:02 by Market Wire
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VAUDREUIL-DORION, QUEBEC--(Marketwire - May 28, 2009) - Rocmec Mining Inc. (the Company) (TSX VENTURE:RMI) (FRANKFURT:D5O) is pleased to announce the initial closing of a brokered private placement led by Canaccord Capital Corporation ("Canaccord" or the "Agent") for:

(i) 4,653,000 flow-through units (each individually, a "FT Unit", and collectively, the "FT Units") of the Company, at a purchase price of $0,08 per FT Unit, each FT Unit being comprised of one flow-through common share of the Company (a "FT Common Share"), and one-half of one non-flow-through common share purchase warrant (each whole common share purchase warrant, a "Warrant") of the Company exercisable into one common share of the Company at a price of $0.10 per common share for a period of 24 months from the date of the issue of the FT Units; and

(ii) 7,331,457 units (each individually, a "Unit", and collectively, the "Units") of the Company, at a purchase price of $0.07 per Unit, each Unit being comprised of one common share of the Company, and one Warrant of the Company entitling its holder to purchase one additional common share of the Company at a price of $0.10 for a period of 24 months from the date of the issue of the Units, the whole in accordance with the provisions of the agency agreement entered into on May 28, 2009;

for aggregate gross proceeds of $885,441.99.

As consideration for acting as agent, the Company has paid the Agent a cash commission of $70,835.36 and a fee in the form of 215,000 Units. In addition, the Agent received 1,198,445 Agent's Warrants, 733,145 of which entitle its holder thereof to acquire Units at a price of $0.07 per Unit for a period of 24 months from the closing date and 465,300 of which entitle its holder thereof to subscribe to Units at a price of $0.08 per Unit for a period of 24 months from the closing date.

The private placement is subject to final TSX Venture Exchange acceptance for filing. All securities issued will be subject to a four-month hold period from the closing date expiring on September 29, 2009.

The net proceeds of this private placement will be used primarily to finance the Company's exploration expenditures on its properties located in the Province of Quebec as well as for general working capital.

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...mining ounces not TONNES!

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 ]

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

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.