Libra Advisors LLC announced the acquisition of 16.6 million units of Rochester Resources Ltd. (RCT.V) at a price of $0.15 per Unit in connection with Rochester's private placement.
The investment advisor noted that each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share, at a price of $0.20 per warrant for a period of 24 months.
Pursuant to the acquisition, Libra now holds 16.6 million common shares, representing about 12.2% of the outstanding common shares of Rochester, and 16.6 million warrants of Rochester that, if exercised, would result in Libra holding about 21.8% of the total outstanding common shares of Rochester.
Libra purchased these Units for investment purposes and may, from time to time, acquire additional securities of Rochester or dispose of such securities as it may deem appropriate.
RCT.V closed Friday's trading session at C$0.22, up C$0.03 or 15.79%.
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