Rosita Mining Corporation: Announces Non-brokered Private Placement
Toronto, January 5, 2017 - Rosita Mining [wp=3075]Rosita Mining Corporation[/wp] (RST: TSX-V) ("Rosita" or the "Company") is pleased to announce that it has made application to the TSX Venture Exchange ("TSXV") for a non-brokered private placement (the "Private Placement") of up to 18,000,000 units ("Unit") at a price of $0.09 per Unit for gross proceeds of up to $1,620,000. Each Unit will be comprised of one common share and 0.6 of a share purchase warrant, with each whole warrant ("Warrant") entitling the holder to acquire a further common share of the Company at a price of $0.15 for a period of two years following the date of issuance. Existing insider participation ("Insiders") may take place for up to 1,000,000 Units. Cash finder's fees equal to 6.5% will be paid on gross proceeds raised up to $1,530,000 (Insider proceeds excluded). The Private Placement will close on or before January 20, 2017 and is subject to the final approval of the TSXV. The Company is relying upon certain prospectus and registration exemptions.
Use of Proceeds
Rosita plans to use the proceeds from the Private Placement to advance the Santa Rita stockpile project (the "Project"), located near Rosita, Nicaragua and for general working capital purposes. Project work planned will include:
-Complete metallurgical test work and engineering studies
-Capital and operating cost estimates and Economic Assessment
-Operating permit application
-Exploration work with an emphasis on drilling on Rosita D Concession
About Rosita Mining Corporation
Rosita is a junior mining and exploration resource company focused on growing shareholder value through the development of near-term mining projects and advancing accretive exploration opportunities.
The Company's 65%-owned Santa Rita project is a copper-gold-silver supergene/ skarn/porphyry project located in Nicaragua, 275 kilometres northeast of Managua.
For additional information, please visit our website at www.rositaminingcorp.com.
For further information, contact:
John Cook, President and CEO
Telephone: +1 416 200 8073
Email: johncook@kos.net
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.
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