Solitaire Minerals Corp. Closes Private Placement
Solitaire Minerals Corp., a diversified junior Canadian mineral exploration company announce that the non-brokered private placement announced on April 24, 2009 has closed. The Company raised $490,000 at a price of $0.07 per share.
A total of 1,580,000 units were issued as flow-through units consisting of one common share and one-half of one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of 10 cents per share for the first year and 12 cents until expiration the following year.
A total of 5,420,000 units were issued as non-flow-through units consisting of one common share and one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of 10 cents per share for the first year and 12 cents until expiration the following year.
A total of 6,210,000 warrants were issued. One warrant will entitle the holder to purchase one additional common share of the company at a price of 10 cents per share for the first year, and 12 cents until expiration the following year. Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring September 15, 2009. The proceeds of the private placement will be used for exploration of the company’s mineral properties and general working capital.
The following pros participated in the private placement; Pro group: Kerry Chow 300,000 flow-through shares and 50,000 non-flow-through shares; Ivano Veschini 100,000 non-flow-through shares.
Finders’ fees: PI Financial Corp. receives $24,500 and 350,000 share purchase warrants, where each warrant is exercisable at a price of 10 cents in the first year and at a price of 12 cents per share in the second year. Bolder Investment Partners Ltd. receives $5,950 and 85,000 share purchase warrants, where each warrant is exercisable at a price of 10 cents in the first year and at a price of 12 cents per share in the second year.
