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TORONTO, Nov. 27 /CNW/ -- Libra Advisors, LLC ("Libra"), announced today that it has acquired 16,667,000 Units of Rochester Resources Ltd. ("Rochester") at a price of $0.15 per Unit in connection with Rochester's private placement. Each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share, at a price of $0.20 per warrant for a period of 24 months.
As a result of the acquisition, Libra now holds 16,667,000 common shares, representing approximately 12.2% of the outstanding common shares of Rochester, and 16,667,000 warrants of Rochester that, if exercised, would result in Libra holding approximately 21.8% of the total outstanding common shares of Rochester.
Libra acquired these Units for investment purposes and may, from time to time, acquire additional securities of Rochester or dispose of such securities as it may deem appropriate.
Libra is the investment advisor to Libra Fund, LP and Libra Offshore Master Fund, LP with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.