Roxmark completes $350,000 flow-through financing

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[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 3 /CNW Telbec/ - Roxmark Mines Limited (TSXV-RMK) today\nannounced the completion of a $350,025 non-brokered private placement\nfinancing. The subscriber in this financing is JOV Diversified Flow-Through\n2008-II Limited Partnership. This is an affiliated fund that subscribed to\nlast year's financing of Roxmark activities.\n\n\nGross proceeds of $350,025 were raised in connection with the issuance of\n4,667,000 flow-through units at a price of $0.075 per unit. Each unit consists\nof one common share and one-half warrant, issued on a "flow-through" basis.\nEach warrant entitles the holder to purchase one common share at a price of\n$0.15 until December 3, 2009.\n\n\nRoxmark paid an aggregate cash finder's fee in the amount of $24,502 and\ngranted 326,690 non-transferable finder warrants to Topleft Securities Ltd., a\nregistered dealer who acted as finder for the financing. Each finder warrant\nentitles the holder to purchase one common share at $0.10 until December 3,\n2009.\n\n\nSecurities issued pursuant to the financing are subject to a hold period\nexpiring on April 4, 2009.\n\n\nProceeds of the financing will be used to fund exploration and\ndevelopment programs to advance Roxmark's Northern Empire Gold Mine and the\nNortoba-Tyson gold and molybdenum property in the Beardmore mining camp in\nNorthern Ontario.\n\n\nAs previously announced, Roxmark updated the November 2008 Technical\nQualifying Report for the Northern Empire Gold Mine in accordance with NI\n43-101 regulations. The report was prepared by Peter Bevan, P. Eng.,\nconsulting geologist and a qualified person under NI 43-101. Roxmark is\ncommissioning a scoping study to dewater the shaft and installing a headframe,\nhoist and ancillary equipment on surface and underground.\n\n\nThe mine was operated successfully by Newmont Mines from 1934 to 1941.\nThe mine was serviced by a shaft to a depth of 2,460 feet and produced 149,000\nounces of gold from 426,000 tons of ore at a recovered grade of 0.35 oz Au/t.\nThe on-site 200TPD mill (expandable to 500TPD) was built in 1982 and upgraded\nand permitted by Roxmark. It processed gold and molybdenum ores in 2005 and\n2006, respectively.\n\n\nThe Northern Empire Mine is located in the Town of Beardmore,\napproximately 200 km northeast of Thunder Bay and serviced by the Trans-Canada\nHighway. Ac...

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