ROCKIES FINANCIAL CORPORATION

March 18, 2005 10:55 ET

Rockies Financial Corporation Announces the Closing of its Initial Public Offering


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ROCKIES FINANCIAL CORPORATION

TSX VENTURE SYMBOL: RKI.P

MARCH 18, 2005 - 10:55 ET

Rockies Financial Corporation Announces the Closing of
its Initial Public Offering

MONTREAL, QUEBEC--(CCNMatthews - March 18, 2005) - Rockies Financial
Corporation ("Rockies") (TSX VENTURE:RKI.P), a Capital Pool Company, is
pleased to announce the closing of its initial public offering of
5,171,500 common shares at a price of $0.20 per share for a total amount
of $1,034,300 to investors in the provinces of Quebec and Ontario.
Canaccord Capital Corporation ("Canaccord") acted as agent for Rockies.
Canaccord received a global remuneration of $103,430, being 10% of the
proceeds of the Offering, a corporate finance fee of $10,000, plus
taxes, as well as non transferable options to purchase an aggregate of
517,150 common shares of Rockies at $0.20 per share, valid for 18 months
from the date hereof.

In accordance with Policy 2.4 of the TSX Venture Exchange Inc. (the
"TSX-V"), the common shares of Rockies will be admitted for trading on
the TSX-V under the ticker symbol RKI.P at the opening of the market on
March 18, 2005.

In addition, options to purchase 732,150 common shares at a price of
$0.20 per share for a period of five (5) years were granted to directors
and officers of Rockies after the closing of the Offering.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Rockies Financial Corporation
    Michel P. Pelletier
    President
    (514) 428-0496
    The TSX Venture Exchange Inc. does not accept responsibility for the
    adequacy or accuracy of this release.