Press Release
Rocmec Mining inc. Symbols: RMI: TSX-V
D5O: FSE
ROCMEC CLOSES PRIVATE PLACEMENT
Pointe-Claire, Quebec, May 28th, 2008 – Rocmec Mining inc. (TSX-V Symbol: RMI - FSE Symbol: D5O) announces the closing of a $1,217,000 private placement.
Subject to the approval of the TSX Venture stock exchange, Rocmec announces that it has closed a private placement consisting of 2,825,000 flow‑through shares (“FT”) at a price of $0.12 per FT share and a private placement of 7,316,665 units at a price of $0.12 per unit for gross proceeds of $1,217,000. Each unit is comprised of one flow-through common share of the Company and one-half transferable non-flow-through share purchase warrant. Each full share purchase warrant entitles its holder thereof to purchase one additional common share of the Company at a price of $0.18 for a period of 24 months from the closing date.
Cash commissions of $36,675 were paid. All the securities issued in virtue of this placement are subject to certain resale restrictions imposed under the applicable securities laws, which require that the securities not be traded for a period of four months.
Subject to the approval of the TSX Venture Exchange, Rocmec announces that it will proceed with the issuance of 110,092 common shares in payment of the interest in accordance with the terms and conditions of the unsecured convertible debenture issued to Fonds régional de solidarité Abitibi-Témiscamingue, s.e.c. in March 2006.
Rocmec Mining's growth strategy is focused on developing quality assets that will significantly enhance shareholder value by using the thermal fragmentation method throughout the Americas to extract narrow vein ore bodies. By utilising the thermal fragmentation method in combination with conventional mining methods, the company aims to become a mid-tier gold producer. In addition, by providing service agreements, the company intends to generate additional revenue and accelerate the spread of this unique technology.
“Thermal fragmentation – an innovative process for mining narrow high-grade ore bodies”
About Rocmec Mining
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 positions it as the partner of choice for the development of narrow high-grade precious metal quartz vein projects. The Company’s shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange.
Please visit us on the web at www.rocmecmines.com
For further information, please contact
John Stella, Manager Investor Relations
(514)428-4185
Cell (514)718-7976
FAX (514)630-6989
Statements in this release that are not historical facts are « forward-looking statements » within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these « forward-looking statements ». The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.