Rocmec Mining Inc. (TSXV:RMI) closed a private placement for a gross proceeds of $70,000. The Company issued 7 units at a price of $10,000 per unit; each unit being comprised of 20,000 common shares of the Corporation priced at $0.13 per share, 80,000 flow-through common shares of the Corporation priced at $0.13 per share and 100,000 common share purchase warrants of the Corporation.
As quoted in the press release:
The common share purchase warrants are valid for a period of 24 months from the date of issuance, each warrant entitling its holder thereof to purchase one additional common share of the Corporation at a price of $0.20 per common share for the first 12 month period and at $0.25 per common share for the remaining 12 month period.
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