EDMONTON, May 22 /CNW/ - Solid Resources Ltd. ("Solid") has accepted subscription agreements for a flow through common share private placement of 1,292,714 units at a price of $.35 per unit for aggregate gross proceeds of $452,450. Each unit will contain one common share of Solid and one-half of one warrant. Each warrant will entitle the holder thereof to acquire an additional one half of one common share of Solid for a period of one year at an exercise price of $.50. Proceeds will be utilized for Canadian Exploration on the Sunrise Lake Silver, Zinc and Gold deposit in the N.W.T. The securities are subject to resale restrictions which do not expire for four months from the date of issue. This transaction is subject to the approval of the regulatory authorities.
The Company's website is at www.solidresources.com and the common stock trades on the TSX Venture Exchange under the symbol SRW and on the Frankfurt Stock Exchange under the symbol A0BLQQ.
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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.
The TSX Venture Exchange has not reviewed this release and does not
accept responsibility for the adequacy or the accuracy of this release.