The CEO (and 2 directors) contributed financing San Fran The CEO himself dropped $577k down of the $950k debenture required. The rest of the $1.5 mil they had in cash from mining revenue. Good to be a producer with revenue $$$.An advantage over any explorer.
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