Rochester Resources Ltd.
OTC Bulletin Board : RCTFF

Rochester Resources Ltd.

October 04, 2007 08:30 ET

Rochester Announces $3.5 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Rochester Resources Ltd. (TSX VENTURE:RCT)(OTCBB:RCTFF)(FRANKFURT:R5I): The Board of Directors of Rochester Resources Ltd. (the "Company") is pleased to announce a private placement of up to 1,750,000 units, at a purchase price of $2.00 per unit, with each unit consisting of one common share of the Company and one-half of one transferable common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $2.25 per share for a period of 18 months from the closing of the private placement. Canaccord Capital Corporation ("Canaccord") has been retained as agent and is being paid a fee of 7.5% of gross proceeds raised, payable in cash or in units at the option of the agent. Canaccord will also receive non-transferable common share purchase warrants (the "Agent's Warrants") equal to 7.5% of the units sold under the private placement. Each Agent's Warrant will be exercisable for one common share of the Company at an exercise price of $2.00 per share for a period of 18 months from the closing of the private placement. In accordance with securities legislation currently in effect, the securities issued pursuant to the private placement will have a restricted "hold" period of four months from the date of closing of the private placement.


Dr. Alfredo Parra, President and CEO

Forward Looking Statements

This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate, environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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