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TSXV: SRW FRANKFURT: A0BLQQ
EDMONTON, May 6 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company") is pleased to announce the appointment of Mr. D. Randy Hayward to the Board of directors. Mr. Hayward has maintained a successful law practice in Edmonton for 20 years. During the latter phase of his law practice, he founded and managed Canadian Dispute Resolution (Alberta) Ltd. and marketed the service of mediation to the legal community and the insurance industry. Mr. Hayward also earned his Diploma in Counselling at P.D. Seminars from the haven Institute on Gabriola Island, B.C. After relocating to the west coast from Edmonton, he has worked with numerous private and public companies for 15 years. Mr. Hayward has been a consultant to a number of successful public companies trading on the TSX Venture Exchange, raising investment capital and working in corporate communications, business development and investor relations. In August of 2006, he became the President of Poly Pacific International, a junior industrial company.
Concurrent with Mr. Hayward's appointment, the Company has granted to him an aggregate of 150,000 options to purchase commons shares of the Company. The options expire at the end of five years and the exercise price is $.24 per share.
Mr. Henry Froese has resigned his position as a board member, due to personal reasons and other commitments.
The Company also announces that it has received regulatory approval to close a private placement of 6,900,000 Units at a price of $.05 per Unit for total gross proceeds of $345,000.00. Each unit consists of one Common Share and one Common share Purchase Unit. Each Warrant is exercisable for a period of 24 months at a price of $.075 if exercised during the first twelve months and $.10 if exercised thereafter. The common shares of Solid acquired pursuant to this private placement are subject to a four month hold period which will expire on August 21, 2009.
Also, further to a news release issued on April 9, 2009, the Company has received approval from the TSX Venture Exchange to issue 1,254,960 shares at $.05 per share to settle outstanding debt for $62,748.
Certain 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.
The TSX Venture Exchange has not reviewed or approved this press release, and the Exchange does not accept responsibility for the adequacy or the accuracy of this release.