Business
Roxmark arranges financing with MineralFields Group
Roxmark arranges financing with MineralFields Group.
About this update from Atlas Salt Inc
[{"type":"text","content":"\n\n\n\nTORONTO, June 7 /CNW/ - Roxmark Mines Limited (TSXV - RMK) (CNQ - RMKL)\ntoday announced that it has entered into an agreement for a non-brokered\nprivate placement financing with MineralFields Group of Toronto, a leading\nmining fund, subject to final approval of the TSX Venture Exchange.\n\n\nThe $1 million private placement consists of the sale of 3,773,584\nflow-through units of the Company at $0.265 each. Each unit will consist of\none flow-through common share and one common share purchase warrant of the\nCompany. Each warrant entitles the holder to purchase one common share of the\nCompany at a price of $0.40 for the first year and at $0.55 for the second\nyear term from closing. The securities to be issued under this arrangement\nwill be subject to certain resale restrictions which require that the\nsecurities not be traded for a period of four months.\n\n\nRoxmark has agreed to pay a cash finder's fee to First Canadian\nSecurities(R) of 5% of the proceeds raised and options equal to 10% of units\nsubscribed for, at an exercise price of $0.265 for a term of two years.\n\n\nProceeds of the private placement will be used to fund the exploration\nand development program to advance Roxmark's holdings of gold and molybdenum\nproperties in the Geraldton-Beardmore mining camp in Northern Ontario.\nCurrently, the Company is carrying out a surface diamond drilling program on\nits Northern Empire mine property.\n\n\nAbout MineralFields, Pathway and First Canadian Securities(R)\n\n\nMineralFields Group (a division of Pathway Asset Management) is a\nToronto-based mining fund with significant assets under administration that\noffers its tax-advantaged super flow-through limited partnerships to investors\nthroughout Canada during most of the calendar year, as well as hard-dollar\nresource limited partnerships to investors throughout the world. Pathway Asset\nManagement also specializes in the manufacturing and distribution of\nstructured products and mutual funds. Information about MineralFields Group is\navailable at www.mineralfields.com. First Canadian Securities(R) , a division\nof Limited Market Dealer Inc., is active in leading resource financings (both\nflow-through and hard-dollar) on competitive, effective and service-friendly\nterms, with investors both within and outside of MineralFields Group.\n\n\nAbout Roxmark Mi...