ROXMARK MINES LIMITED -
NEWS RELEASE -
ROXMARK COMPLETES FLOW-THROUGH FINANCING -
Toronto, Ontario, December 29, 2006.
Roxmark Mines Limited -
(RMKL – CNQ.ca) announces that it has completed the
non-brokered private placement previously announced in its
December 20, 2006 news release (the “Offering”).
The Company has raised aggregate gross proceeds of $290,160
through the sale of 1,208,999 units of the Company, at a price
of $0.24 per unit.
Each unit consists of one “flow-through” common share and one
common share purchase warrant of the Company.
Each warrant entitles the holder thereof to purchase one
common share of the Company at a price of $0.29 until
December 29, 2007 and thereafter at a price of $0.35 until
December 29, 2008.
The proceeds of the Offering will be used by the Company
to fund its work programs.
The securities issued pursuant to the Offering are subject
to a hold period expiring on April 30, 2007.
The Company also announces that it has received a total of
$282,483 through the exercise of outstanding warrants during
the period from November 29 to December 29, 2006.
An aggregate of 8,538,334 warrants remains outstanding and
exercisable until February 12, 2007.
Upon the exercise of these warrants, the Company would receive
up to an additional $1.3 million.
About Roxmark Mines
Roxmark Mines is a Canadian-based junior resource company
involved in exploration and development of gold and molybdenum
in the Geraldton-Beardmore area of Northern Ontario.
Assets include the Nortoba-Tyson molybdenum property,
an onsite mill equipped to process both gold and molybdenum,
and six formerly highly productive gold mines which
generated nearly two million ounces of gold from high grade
ore.
Existing infrastructure above and below ground at these mines
will provide important advantages in developing additional
gold-bearing structures.
Further information is available at
roxmark.com
cnq.ca
Forward-Looking Statements
This news release includes certain “forward-looking
statements”. All statements regarding exercise of
warrants, potential mineralization, resources, exploration results, completion of program dates, amounts
and future plans are forward-looking statements that involve risks and uncertainties including, but not
limited to, political risk, title risk, commodity price and currency exchange risk, operating and
environmental hazards encountered in the mining business, general industry and economic conditions,
changes in regulatory requirements, future capital expenditures and the availability of financing. The
results or events predicted in these forward-looking statements may differ materially from actual results or
events. Historical results of operations and trends that may be inferred from the discussion and analysis
may not necessarily indicate future results from operations.
For more information,
contact Monir Younan,
President at:
Roxmark Mines Limited
801- 80 Richmond St. West
Toronto, Ontario M5H 2A4
Website: roxmark.com
Tel.: (416) 860-1636
Fax: (416) 360-7355
E-mail: roxmark@on.aibn.com
cnq.ca
cnq.ca
Subject 56863
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