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LMD LED Medical Diagnostics Inc

0.40
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
LED Medical Diagnostics Inc TSXV:LMD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.40 0.355 0.40 0 01:00:00

Rocmec Closes a Financing With the MineralFields Group

03/03/2010 8:30pm

Marketwired Canada


Rocmec Mining Inc. (the "Company") (TSX VENTURE:RMI) (FRANKFURT:D5O) is pleased
to announce the closing of a non-brokered private placement of $500,000 through
the sale of 6,250,000 flow-through units ("FT Units") at a price of $0.08 per FT
Unit to the MineralFields Group. Each FT Unit is comprised of one flow-through
common share of the Company and one-half of one transferable non-flow-through
common share purchase warrant. Each whole common share purchase warrant entitles
the holder thereof to purchase one additional common share of the Company at a
price of $0.10 for a period of 24 months from the closing date.


In connection with the private placement, Limited Market Dealer Inc. ("LMD")
received a cash finder's fee from the Company equal to 2% of the aggregate gross
proceeds. LMD also received finder's shares equal to 2% of the FT Units
subscribed for and finder's options equal to 10% of the number of FT Units
subscribed for, each such option entitling LMD to acquire one Unit at a price of
$0.08 for a period of 24 months from the closing date.


All the securities issued pursuant to this placement are subject to certain
resale restrictions imposed under the applicable securities laws, which require
that the securities not be traded before July 3, 2010.


The proceeds from the sale of the FT units will be used by the Company for the
development of its Rocmec I (Russian Kid) project located in Rouyn-Noranda,
Quebec.


"Rocmec is very pleased to be renewing its relationship with the MineralFields
Group", stated Mr. Donald Brisebois, President and CEO. "This is an important
milestone in the growth of Rocmec and we look forward to working with the
MineralFields Group as we develop our holdings."


About MineralFields, Pathway and First Canadian Securities (R)"

MineralFields Group (a division of Pathway Asset Management), based in Toronto,
Vancouver Montreal and Calgary, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada as well as hard-dollar resource
limited partnerships to investors throughout the world. Pathway Asset Management
also specializes in the manufacturing and distribution of structured products
and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class
mutual fund series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities (R) (a division of Limited
Market Dealer Inc.) is active in leading resource financings (both flow-through
and hard dollar PIPE financings) on competitive, effective and service-friendly
terms, and offers investment banking, mergers and acquisitions, and mining
industry consulting, services to resource companies. MineralFields and Pathway
have financed several hundred mining and oil and gas exploration companies to
date through First Canadian Securities (R).


About Rocmec

Rocmec Mining Inc. is a Canadian junior exploration company actively involved in
the acquisition, exploration and development of precious metal projects. The
Company's exclusive thermal fragmentation process combined with its growth
strategy place it as the partner of choice for the development of narrow
high-grade precious metal quartz vein properties. The Company is listed on the
TSX Venture Exchange and trades under the symbol: RMI


Rocmec's growth strategy is to focus on the development of quality assets that
will significantly enhance shareholder value. Exploitation of narrow high-grade
precious metal quartz veins with its exclusive thermal fragmentation process
coupled with conventional mining methods will lead the Company in becoming a
mid-size gold producer. The acquisition, development and future exploitation
activities at the recently acquired Rocmec I (Russian Kid) property are an
excellent example of this strategy.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


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