VANCOUVER, May 9 /CNW/ - Roca Mines Inc. (TSX-V: ROK) ("Roca" or the "Company") announces that it has closed the $2.5
million private placement announced on April 28, 2011 with strategic
investor SeAH Holdings Corp.
10 million units of the Company have been issued at a price of $0.25 per
unit, each unit consisting of one common share and one half of a
transferable common share purchase warrant. Each full warrant entitles
the holder to purchase an additional common share of the Company at a
price of $0.30 through May 9, 2012. All securities issued under this
private placement are subject to hold period expiring September 10,
About SeAH Holdings Corp. - SeAH is a public company listed on the Korean stock exchange. SeAH is
the holding company of SeAH Group, established in 2001 by separating
SeAH Steel's investment sector and is based in Seoul, South Korea. SeAH
has 18 domestic and 13 overseas subsidiaries/operations with business
areas in special steel producing, pipe manufacturing, IT and energy.
SeAH Besteel Corp., the largest subsidiary of SeAH, is known as the #1
special steel maker in Korea and the company mainly produces automotive
parts and shipbuilding parts for globally renowned automakers and
The Company's various contractors and employees are working towards
restarting production at the MAX molybdenum mine and continue to
advance its permitted 1,000-tonne-per-day expansion plans. Molybdenum
oxide currently trades at approximately US$17.00 per pound.
ROCA MINES INC.
David J. Skerlec - Chief Financial Officer
Neither the 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.
SOURCE Roca Mines Inc.
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