Roxmark Receives $500,000 from Warrants Exercised by Significant Shareholder
Toronto, Ontario, November 18, 2008. Roxmark Mines Limited (TSXV�RMK) today announced that Philip F. Cunningham, a significant shareholder of Roxmark has acquired 5,000,000 common shares through the exercise of common share purchase warrants in a private transaction.
The shares, which were acquired at an exercise price of $0.10 per share, represent 3.02% of the current issued and outstanding common shares of Roxmark. Cunningham owns an aggregate of 36,668,000 common shares of Roxmark, representing approximately 22.11% of the float. The exercise of out-of-the-money warrants is a demonstration of his confidence in the future of the Company.
Proceeds will be used for general corporate purposes and to assure that Roxmark has sufficient funding for its programs.
About Roxmark Mines
Roxmark Mines Limited is the leader in gold and molybdenum exploration and development in the historically significant Geraldton-Beardmore area of Northwest Ontario. In the last several years, Roxmark has generated cash flow from bulk-sampled gold and molybdenum processed at its fully-permitted mill and has the advantage of infrastructure from six formerly highly productive gold mines located on its properties. These mines previously produced nearly two million ounces of gold from high grade ore but were closed primarily due to dramatically lower gold prices at the time and to boundary issues, since eliminated.
Further information is available on the Company's website at www.roxmark.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain �forward-looking statements�. Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Monir Younan, President
Roxmark Mines Limited
801- 80 Richmond St. West
Toronto, Ontario M5H 2A4
Tel.: (416) 860-1636
Fax: (416) 360-7355
E-mail: roxmark@on.aibn.com
Website: www.roxmark.com
Renmark Financial Communications Inc.
Christine Stewart: cstewart@renmarkfinancial.com
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Toronto � Tel.: (416) 644-2020 / Fax: (416) 644-2021
Montreal � Tel.: (514) 939-3989 / Fax: (514) 939-3717
www.renmarkfinancial.com
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