Para Control Shareholder Files Early Warning Report, Provides Credit Facility

About this update from Soma Gold Corp.

[{"type":"text","content":"Para Control Shareholder Files Early Warning Report, Provides Credit FacilityVANCOUVER, BC / ACCESSWIRE / April 8, 2016 / Para Resources Inc. (TSX Venture: PBR) (\"Para\" or the \"Company\"): This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the \"Early Warning Report\") regarding the acquisition of securities of the Company by Conex Services Inc. (\"Conex Services\").\nConex Services, a company wholly-owned and controlled by Glenn Walsh, acquired 24,430,000 Units of the Company at a price of $0.12 per Unit under the Company's non-brokered private placement announced October 14, 2015. Each \"Unit\" consists of one common share (a \"Share\") and one half of one transferable share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to acquire one additional Share of the Company for a period of 18 months at a price of $0.18 per Share.\nAccordingly, Conex Services beneficially owns an aggregate 25,855,237 Shares and 12,500,000 Warrants of the Company, representing approximately 41.78% of the 61,882,441 issued and outstanding Shares of the Company on an undiluted basis, and approximately 51.56% of the Company's 74,382,441 issued and outstanding Shares, on a fully diluted basis, assuming exercise of the Warrants held by Conex Services. \nMr. Walsh personally holds 1,570,224 Shares of the Company and warrants to acquire an additional 1,285,112 Shares of the Company. When aggregated, Conex Services and Mr. Walsh own and control 27,425,461 of the Company's 61,882,441 issued and outstanding Shares, or 44.32%. On a fully diluted basis, Conex Services and Mr. Walsh own and control 41,210,573 Shares, or 54.46% of the 75,667,553 Shares the Company would then-have issued and outstanding.\nConex Services intends to hold its securities of the Company for investment purposes. Conex Services may, depending on market and other conditions, increase or change its beneficial ownership over the Shares or other securities of the Company through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.\nA copy of the Early Warning Report for Conex Services can be found under the Company's profile at www.S...

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