Business
Solid Announces Non-Brokered Private Placement
Solid Announces Non-Brokered Private Placement
About this update from Regenx Tech Corp
[{"type":"text","content":"\n\n\n\n Jun. 14, 2010 (Canada NewsWire Group) -- Solid Resources Ltd. ("Solid" or the "Company") (TSX Venture: SRW) (Frankfurt: A0BLQQ) announced today it intends to proceed with a non-brokered private placement offering of units ("Units") at a subscription price of Cdn.$0.24 per Unit. Each Unit will consist of one (1) common share in the capital of Solid and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share in the capital of Solid at a price of Cdn.$0.45 until the date that is one year from the initial Closing Date. The amount to be raised under the private placement is Cdn.$2,000,000. The proceeds from the placement will be used for general working capital. The securities issued in connection with the private placement will be subject to a four month hold period. A finder's fee of up to 10% of the gross proceeds of the private placement may be paid on all or any portion of this private placement. Completion of the offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.\n\nCertain statements contained in this press release, including statements which are related to exploration activity and future prospects and profitability and which may contain words such as "could", "should", "expect", "believe", "will" and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances and/or achievements of Solid to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market conditions and prices of tantalum, lithium, tin, silver and other metals and related products and services; competition; political and economic conditions in countries in which Solid does business; changes in laws and regulations, including environmental regulations, to which Solid is subject, and other factors which are described in further detail in Solid's filings with the Canadian Securities Regulators.\n\nNeither the TSX Venture Exchange nor its Re...