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Roxmark completes $1 Million flow-through financing with MineralFields Group
Roxmark completes $1 Million flow-through financing with MineralFields Group.
About this update from Atlas Salt Inc
[{"type":"text","content":"\n\n\n\nTORONTO, July 16 /CNW/ - Roxmark Mines Limited (TSXV - RMK) (CNQ -\nRMKL) today announced the completion of $1 million of non-brokered private\nplacement financing with MineralFields Group of Toronto, a leading mining\nfund.\n\n\nGross proceeds of $1 million were received in consideration of the\nissuance of 5,000,000 flow-through units at a price of $0.20 per unit. Each\nunit consists of one flow-through common share and one common share purchase\nwarrant of the Company. Each warrant entitles the holder to purchase one\ncommon share of the Company at a price of $0.40 until July 13, 2008 and at\n$0.55 thereafter until July 13, 2009. The securities issued pursuant to the\nfinancing are subject to a four-month hold period until November 14, 2007.\n\n\nRoxmark paid finder's fees to Limited Market Dealer Inc. in the amount of\na cash commission of 5% of the proceeds and granted 500,000 non-transferable\nfinder's warrants each exercisable at $0.20 per warrant until July 13, 2009 to\nacquire one common share and one common share purchase warrant. Such common\nshare purchase warrant shall be exercised on the same terms as the warrants\nissued under the offering.\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, wi...