Press Release
Rocmec Mining Inc. Symbols: RMI: TSX-V
D5O: FSE
Thermal fragmentation…mining ounces not TONNES!
ROCMEC CLOSES CONVERTIBLE DEBENTURE OFFERING
Vaudreuil-Dorion, Quebec, May 31st, 2010 –Rocmec Mining Inc. (the « Company ») (TSX-V: RMI) (FSE: D5O) is pleased to announce it has closed a convertible debenture financing. The Company issued a CDN$1,500,000 secured convertible debenture at an 8% discount to the market for gross proceeds of $1,380,000. The convertible debenture matures on May 21, 2012 and bears interest at the rate of 9 per cent per annum. An amount equal to $1,380,000 will be convertible, at the price of $0.10 per unit, at any time at the purchaser's discretion into units consisting of one common share and one common share purchase warrant, each warrant entitling the holder to purchase one common share at the price of $0.10 per common share.
The convertible debenture issuable under this placement and the underlying securities are subject to a four month hold period pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange and cannot be traded before September 26, 2010.
The proceeds of the financing will be used to further advance the development of the company’s Rocmec 1 gold property located in Rouyn-Noranda Quebec.
About Rocmec Mining Inc.
Rocmec’s growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value by employing, across the Americas, its exclusive and patented thermal fragmentation mining method to extract ore from narrow-vein deposits. Exploitation of narrow high-grade precious metal veins with its innovative mining method will lead the Company in becoming a mid-size gold producer. Moreover, the service contracts allow to generate additional revenues and expand the usage of this unique technology.
Thermal fragmentation…mining ounces not TONNES!
The Thermal Fragmentation Mining Method video can be viewed on Rocmec’s website or by clicking the following link:
http://www.rocmecmines.com/video_an.asp
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 place it as the partner of choice for the development of high-grade narrow vein precious metal properties. The Company’s shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Please visit us on the web at www.rocmecmines.com
For additional information, contact:
Mr. Donald Brisebois Mr. John Stella
President & CEO Investor relations Manager
Telephone (450) 510-4442 (450) 510-4442
Fax (450) 510-9901 (450) 510-9901
Cell (514) 718-7976
Email: dbrisebois@rocmecmines.com Email: jstella@rocmecmines.com