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Gold/Mining/Energy : Rock Resources -- Ignore unavailable to you. Want to Upgrade?

To: 1st.mate who wrote (885)	2/27/1999 11:05:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 1996

Rock Resources Inc. 2/26/99 - Private Placement Closings, Chile Geophysical Program & ROCK RESOURCES INC. ("RKR-V") - Private Placement Closings, Chile Geophysical Program & - Expropriation Compensation Thomas J. Kennedy, B.Comm., LL.B. President of ROCK RESOURCES INC. reports: Private Placement Closings Management is pleased to announce the closing of its convertible debenture private placement announced on November 24, 1998 providing gross proceeds of $200,000 Cdn, which has a conversion feature allowing conversion into units at a conversion rate of $0.15 per unit if converted in the first year and $0.20 per unit if converted in the second year, with each unit comprised of one common share and one two year warrant entitling the holder to purchase one additional common share at the price of $0.15/share during the first year and $0.20/share during the second year. Management is pleased to announce the closing of its private placement announced on December 4, 1998 for 1,333,333 units at a price of $0.15 per unit providing gross proceeds of $200,000 Cdn, each unit comprised of one common share and one two year warrant entitling the holder to purchase one additional common share at the price of $0.15/share during the first year and $0.20/share during the second year. The securities issued will bear a hold period of 4 months (hold period expires April 4, 1999) and the warrants will expire on December 4, 2000. The proceeds of the financings will be used for continuing exploration with respect to the Companys Chilean mineral property, general working capital and payment of current obligations. Finders fees payable to Woodcrest S.A. (of 77,000 shares with hold period until March 24, 1999) applicable to the convertible debenture of November 24, 1998 and finders fees payable to Woodcrest S.A. (of 98,000 shares with hold period until April 4, 1999) applicable to the private placement of December 4, 1998 have been approved by the VSE. Chile Geophysical Program Further to our news release of January 25, 1999, the Induced Polarization (IP) and Magnetometer (MAG) written reports have now been received. An initial review indicates that the results are consistent with conclusions from the previous geological data (including drilling). Once our comprehensive new geological report (which will include all data to date including IP and MAG) is completed in March Rock will be in a position to announce a main target drill program schedule. Expropriation Compensation Further to our news release of February 1, 1999, Rock Resources is continuing to pursue its claim for $15 million, which Rock believes would provide fair compensation for the expropriated mineral claims in B.C. TEL: (604) 688-3304 Thomas J. Kennedy, B.Comm., LL.B. President FAX: (604) 682-6038 TEL: 1-888-ROCK-RES (762-5737) E-mail: info@rockresources.com Web site: rockresources.com ______________________________________ (c) Corporate Dissemination Services Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041. © 1998 StockHouse Online Journal \|