Solid Resources with successful private placement

 

Solid Resources with successful private placement

VANCOUVER, – Solid Resources Ltd. ("Solid" or the "Company") (TSX-V: SRW) (Frankfurt: YRS) is pleased, the successful completion of the non-brokered private placement, just like on 30. December 2013 published, to announce. There were a total of 10.541.667 Units with gross proceeds of 1.265.000 $ placed. The company had originally intended to 1.200.000 $ to place, However, the support was so great on the part of investors, that the authorization for the additional 65.000 $ in the stock market wants to catch up now.

Each unit consists of one share and one share purchase warrant (Warrant). Each warrant entitles the holder to subscribe for one (1) Common share of the company's capital (a "Warrant Share") at an exercise price of 0,20 Per common share in the first year after the end date and 0,26 CAD in the following year the two-year period after the closing date. The warrants are subject to an accelerated exercise clause if at any time after the four-month hold period, the closing price of the shares on the TSX Venture Exchange 0,40 CAD an 10 consecutive trading days is. The Warrant holders will subsequently be notified in writing, that within 30 Days following this date will be forfeited its Warrants. The securities issued in connection with the Offering are subject to a four month hold period on the 8. More 2014 ends.

There is an agency fee in the amount of 71.589,00 CAD und 218.050 Paid Warrants, each mediation warrant the holder to purchase one (1) Common share of the company's capital (a "Warrant Share") at an exercise price of 0,20 Per common share in the first year after the end date and 0,26 CAD in the following year the two-year period after the closing date. These warrants are as described above, the accelerated sunset clause as described above.

The closing of the private placement is subject to all regulatory approvals and the acceptance by the TSX Venture Exchange.

The Company intends to use the proceeds from the offering for exploration of iron ore Cehegin project in South East Spain and for the Alberta-1 tin-tantalum-lithium project in Northwest Spain as well as working capital.

Solid Resources is a Canadian junior mining company focused on Spain. The focus is the exploration and development of rare and precious metals and industrial raw materials. The company is currently in the investigation to reopen the Cehegin iron ore mine in South East Spain. It also applies for a mining license on the Alberta-1 tantalum / tin and lithium deposits in North-Western Spain.

Weder die TSX Venture Exchange noch ihr Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept any responsibility for the accuracy or consistency of this press release.

For further information please contact:
Solid Resources Ltd

Greg Pendura
President & CEO
Solid Resources Ltd.
Ph: (780) 800-0726
www.solidresources.com
Swiss Resource Capital AG Jochen Staiger info@resource-capital.ch

For the correctness of the translation is any liability assumed! Please note original English message!

Those: IRW-Press.com.

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