TSXV: SRW
FRANKFURT: A0BLQQ
EDMONTON, March 1 /CNW/ - Solid Resources ("SRW" - TSXV) Solid Resources
Ltd. announces that it is undertaking a private placement of one million units
consisting of one million common shares at a price of $1.00 per share and one
warrant to acquire an additional common share at a price of $1.50 per share
for a period of 2 years from the date of issue. In connection with this
private placement, Solid will be paying a 6% commission on a portion of the
funds raised.
Proceeds of the private placement will be utilized to complete the
current drilling program on the Sacrificio property in Mexico for working
capital and additional exploration. Exploration to date indicates that the
Sacrificio property is a polymetallic deposit carrying Copper, Silver, Gold
and Molybdenum. The drilling program consists of 5 scout holes on 5 different
anomalies on the property. Hole no. 3 is currently in progress. All holes are
being drilled at 45 degrees into the anomalies. After all assays are
completed, the determination will be made as to which anomalies will be the
focus of future drilling programs to ensure the best possible results.
Solid Resources Ltd. is actively exploring worldwide for Rare, Precious,
and Base Metals. Its current properties are located in Canada, Spain, Mexico,
Italy, and Peru. The Company's website is 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.
