THUNDER BAY, Ontario, April 13, 2018 (GLOBE NEWSWIRE) -- Mr. Pierre Gagné announces that today he acquired ownership of or control over an additional aggregate of 2,598,931 units (the “Units”) in the capital of Rockex Mining Corporation (“Rockex” or the “Issuer”) (CSE:RXM) at a price of $0.03 per Unit through a private placement by Rockex. Each Unit was comprised of one common share of the Issuer (each a “Common Share”) and one-half warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one Common Share at a price of $0.05 within 60 months after closing.
Prior to acquiring such Units, in which Mr. Gagné acquired 2,598,931 Common Shares, representing 2.22% of the outstanding Common Shares prior to the Private Placement, Mr. Gagné owned or controlled 57,806,691 Common Shares representing approximately 49.40% of the issued and outstanding Common Shares, 21,713,227 warrants that, if exercised would have represented approximately 18.55% of the issued and outstanding Common Shares (calculated on a partially diluted basis) and 300,000 stock options that, if exercised, would have represented approximately 0.26% of the issued and outstanding Common Shares (calculated on a partially diluted basis).
As a result of the above-noted acquisition, Mr. Gagné now owns or controls 60,405,622 Common Shares representing approximately 49.81% of the issued and outstanding Common Shares and 23,012,692 warrants that, if exercised, would represent approximately 18.77% of the issued and outstanding Common Shares (calculated on a partially diluted basis). In addition, Mr. Gagné holds 300,000 stock options that, if exercised, would represent approximately 0.25% of the issued and outstanding Common Shares (calculated on a partially diluted basis).
Mr. Gagné has no present intention of acquiring additional securities of Rockex (other than with respect to the possible exercise of some or all of the warrants or options). Depending upon his evaluation of the business, prospects and financial condition of Rockex, the market for Rockex’s securities, general economic and tax conditions and other factors, Mr. Gagné may acquire more or sell some or all of his securities of Rockex.
Rockex relied on the exemption provided in section 73.3(2) of the Securities Act (Ontario) corresponding to National Instrument 45-106, section 2.3 – Accredited Investor.
For more information and to obtain a copy of the early warning report required by securities legislation and filed on SEDAR under Rockex’ company profile at www.sedar.com, please contact:
Pierre Gagné, Chief Executive Officer of Rockex Mining Corporation
580 New Vickers Street
Thunder Bay, Ontario P7E 6P1
Telephone: 807-623-2626