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Solana Resources Limited ("Solana" or the "Company") - "Bought Deal" Financing Increase
Solana Resources Limited ("Solana" or the "Company") - "Bought Deal" Financing Increase.
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION\n\n\nIN THE UNITED STATES/\n\n\nCALGARY, AB and LONDON, UK, Oct. 25 /CNW/ - Solana Resources Limited\n(TSX-V: SOR; AIM: SORL) is pleased to announce that further to its news\nrelease issued earlier today, the size of the bought deal financing has been\nincreased from 19,800,000 common shares to 24,330,000 common shares at a price\nof C$2.20 per common share for gross proceeds of C$53,526,000. The financing\nis being led by Tristone Capital Inc. and includes Orion Securities Inc.,\nWestwind Partners Inc., and Toll Cross Securities Inc., collectively (the\n"Underwriters"). In addition, the Company has granted the Underwriters an\nover-allotment option to acquire up to an additional 2,970,000 common shares\nat a price of C$2.20 per common share at any time within 30 days of the\nclosing date. If the over-allotment option is exercised in full, additional\ngross proceeds will be C$6,534,000 for total gross proceeds of C$60,060,000.\nThe offering will be made in the provinces of British Columbia, Alberta, and\nOntario by way of short form prospectus. The offering is scheduled to close on\nor about November 14, 2007.\n\n\nSolana plans to use the net proceeds of this offering to fund exploration\nand development of its Colombian oil and gas assets and for general corporate\npurposes.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of any offer to buy the securities in any jurisdiction. The\ncommon shares may be offered or sold in other eligible foreign jurisdictions\nand to U.S. buyers on a private placement basis pursuant to an applicable\nexemption from registration requirements in Rule 144-A or Regulation D of the\nUnited States Securities Act of 1933, as amended.\n\n\nForward Looking Statements\n\n\nCertain information regarding the Company, including management's\nassessment of future plans and operations, may constitute forward-looking\nstatements under applicable securities law and necessarily involve risks\nassociated with oil and gas exploration, production, marketing and\ntransportation such as loss of market, volatility of prices, currency\nfluctuations, imprecision of reserve estimates, mechanical problems, equipment\nlimitations, environmental risks, competition from other producers and ability\nto a...