Rochester Energy Corp.

September 26, 2005 18:04 ET

Rochester Energy Corp. Completes Previously Announced Private Placement of Units

CALGARY, ALBERTA--(CCNMatthews - Sept. 26, 2005) - Rochester Energy Corp. ("Rochester") is pleased to announce that it has completed the third and final closing of a previously announced, partially completed non-brokered private placement of up to 3,000,000 units of Rochester at a price of $0.10 per unit (the "Private Placement"). Each unit consists of one common share of Rochester and one common share purchase warrant exercisable for 5 years at $0.40 (a "Unit").

This third closing was over-subscribed and the Board of Directors of Rochester authorized an increase to the offering to a total of 3,225,500 units to accommodate the additional Alberta-resident subscribers. The total for this closing consists of the issuance from treasury of 650,000 units of Rochester for aggregate gross proceeds of $65,000. The common shares issued under the Private Placement are subject to a four-month plus a day hold period from the date of closing under applicable securities legislation.

The proceeds from the offering will be used to pay outstanding legal, accounting and regulatory filing fees as well as provide working capital for Rochester's oil and gas property acquisition program.

Following these issuances, Rochester has 5,346,646 common shares issued and outstanding.

Rochester is a junior oil and gas company with its head office in Calgary, Alberta and is a reporting issuer in Alberta, British Columbia and Ontario. Rochester's primary focus is the acquisition of oil and gas properties in Western Canada in an effort to regain financial stability.

Shares of Rochester are not posted for trading on any stock exchange (Rochester's shares were previously, but are no longer, listed for trading on the Toronto Stock Exchange under the symbol ROH). Rochester's shares are currently subject to cease trade orders in British Columbia and Ontario.

Contact Information

  • Rochester Energy Corp.
    Troy Mochoruk
    Corporate Secretary
    (403) 262-4008