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Re: News Releases - Wednesday, May 28, 2008
ROCA -- Notice of Intention to Make Normal Course Issuer Bid
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Vancouver, British Columbia: Roca Mines Inc. (ROK: TSX-V) ("Roca" or
"the Company") has filed with the TSX Venture Exchange (the "Exchange")
a notice of its intention to make a normal course issuer bid (the
"Bid") for its common shares through the facilities of the Exchange.
A maximum of 4,078,500 common shares, representing approximately 5% of
the issued and outstanding common shares in the Company, will be
eligible for purchase in the 12-month period commencing June 2, 2008,
and ending on June 1, 2009. Pursuant to the policies of the Exchange,
Roca is permitted to re-purchase through open market purchases, up to
2% of its outstanding common shares in any given 30 day period.
The price that the Company will pay for any such common shares will be
the market price at the time of acquisition and any common shares
purchased pursuant to the Bid will be cancelled. The actual number of
common shares that may be purchased and the timing of any such
purchases will be determined by Roca based upon market and investment
considerations. As of the date hereof, there are 81,570,328 common
shares of Roca issued and outstanding.
The Company considers the Bid to be in the best interest of the Company
and its shareholders. Any re-purchase by the Company of its shares
would be for its own corporate purposes and reasons. The Company
believes that there may be times over the course of the year when its
common shares may trade in a price range that does not adequately
reflect their value in relation to Roca's business and its future
business prospects. As a result, depending on future price movements
and other factors, Roca believes that its outstanding common shares may
represent an attractive investment and a desirable use of a portion of
its available funds. The re-purchase by the Company of any of its
shares should not be deemed or construed as a recommendation to
purchase any of its shares or an indication of the present or future
value of the Company's shares.
The name of the member conducting the Bid on behalf of Roca is
Desjardins Securities Inc.
Shareholders may obtain a copy of the notice by contacting Roca's head
office.
ROCA MINES INC.
"David Skerlec"
David J. Skerlec -- Chief Financial Officer
For further information contact:
Doug Fosbrooke
Investor Relations
Tel: 604-684-2900
Fax: 604-684-2902
Email: info@rocamines.com
Web: www.rocamines.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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Copyright (c) 2008 ROCA MINES INC. (ROK) All rights reserved. For
more information visit our website at http://www.rocamines.com/ or send
mailto:info@rocamines.com
Message sent on Wed May 28, 2008 at 2:14:31 PM Pacific Time
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