Brossard (Quebec), February 25th, 2014- Rocmec Mining Inc. (the "Corporation" or "Rocmec") (TSX-V Symbol: RMI), is extremely pleased to announce that the Corporation has signed an exclusive distribution agreement with MaXem Equipment ("MaXem") of South Africa for the distribution and usage of its patented Thermal Fragmentation mining method. Highlights of the agreement include the granting of the exclusive rights to MaXem for the distribution, deployment and usage of the Corporation's exclusive and patented Thermal Fragmentation mining method in the Southern portion of Africa, a 50/50 sharing of net profits from Thermal Fragmentation contracts carried out by MaXem and a close working relationship for the continued development and promotion of the technology.
"Over the past few years we have developed a very close relationship with MaXem and are delighted with the agreement. Since the beginning, they have demonstrated a keen interest in our technology and it's broad potential. South Africa is a major market for our technology and the agreement with MaXem is a major milestone in the implementation of our overall distribution strategy for the technology" stated Andre Savard, Rocmec's President and CEO.
MaXem is a multi-facet company, offering equipment sales and support and mining services. MaXem Contracting includes long hole drilling, drop and inverse raising and mechanized mine production. As a company, MaXem has a track record of success in mine management as well as mine operations not to mention the business of contract mining. MaXem has a clear understanding of mining inherent risks as well as detailed commodity experience that includes coal, gold, platinum, heavy minerals and base metals.
Additionally, Rocmec announces that it has closed a non-brokered private placement totalling $8,590.50. In exchange, the Corporation will issue 78,095 common shares at a price of $0.11 per share.
All securities issued in connection with the Private Placement are subject to a four month and one-day hold period from the date of issuance, expiring on June 26th, 2014. The Corporation intends to use the net proceeds of the Private Placement for general corporate purposes and working capital.
Rocmec is active in the exploration and the development of gold resources in Quebec and Peru. The Corporation holds a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and also an exclusive license for the thermal fragmentation mining method for exploiting narrow-vein ore deposits.
The company's growth strategy is based on:
-The development of its gold deposits with the objective of producing revenue from its operations;
-Increasing the value of its mining assets by prioritizing the exploration targets; and
-The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976 firstname.lastname@example.org
Andre Savard, President & CEO (450) 510-4442 email@example.com
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.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Corporation Miniere ROCMEC Mining Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.rocmec.com
Release ID: 34293