And the CEO and directors participate again This debenture was towards the 1,500,000 payment for the option of obtaining 100 percent San Francisco project, which had grades as high as 800g/t silver (average about 200g/t Ag and up to 7g/t gold. The rest they got from production revenue
ROCHESTER RESOURCES LTD. ("RCT")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: May 15, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 23, 2012:
Convertible Debenture $950,000
Conversion Price: Convertible into shares at $0.10 of principal outstanding
Maturity date: December 31, 2014
Detachable Warrants 4,750,000 warrants to purchase 4,750,000 shares for a two year period at a price of $0.10.
Interest rate: An interest charge of $12.67 per tonne of mineralized material from the San Francisco project, subject to a minimum monthly payment of $5,067 per month and a maximum monthly payment of $15,833 per month.
Number of Placees: 5 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P Debenture
Eduardo Luna Y $577,712
Mike Magrum Y $50,000
Joseph Keane Y $49,652