EDMONTON, May 29 /CNW/ - Solid Resources Ltd. ("Solid" or the "Company") announces that it has received regulatory approval to close a $190,450.00 private placement. The private placement consists of one million, two hundred and sixty-nine thousand, six hundred and sixty seven units consisting of 1,269,667 common shares at a price of $.15 per share and one warrant to acquire an additional common share at a price of $.20 per share for a period of one year from the date of issue. In connection with this private placement, Solid has paid a 6% commission on the funds raised. The common shares of Solid acquired pursuant to this private placement are subject to a four month hold period which will expire on September 30, 2008.
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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.
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