|By Marketwired .||
|July 8, 2014 05:14 PM EDT||
THUNDER BAY, ONTARIO -- (Marketwired) -- 07/08/14 -- Mr. Pierre Gagne announces that he has disposed of a total of 6,000,000 warrants issued in 2013 (the "2013 Warrants") in the capital of Rockex Mining Corporation ("Rockex") previously held by a company controlled by him (the "Company"). Mr. Gagne is also pleased to announce that he has acquired a total of 191,400 units (the "Units") in the capital of Rockex (at a price of $0.04 per Unit) through the Company. Each Unit was comprised of one common share and one warrant (a "2014 Warrant"). Each 2014 Warrant entitles the holder to purchase one common share at a price of $0.05 within 6 months after closing, or $0.075 more than 6 months but not more than 12 months after closing or $0.10 thereafter until 48 months after closing, subject to acceleration in certain circumstances.
As a result of the above-noted disposition and acquisition, Mr. Gagne now owns or controls 47,256,691 common shares representing approximately 51.07% of the issued and outstanding common shares and 13,275,727 warrants that, if exercised, would represent approximately 14.25% of the issued and outstanding common shares. In addition, the Mr. Gagne holds 400,000 stock options that, if exercised, would represent approximately 0.43% of the issued and outstanding common shares.
The Company disposed of the securities to other directors of Rockex. Mr. Gagne 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). 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. Gagne may acquire more or sell some or all of his securities of Rockex.
Mr. Pierre Gagné
Chairman of the Board of Rockex Mining Corporation
580 New Vickers Street, Thunder Bay, Ontario P7E 6P1