By Sheri Kasprzak
Atlanta, March 21 - Solid Resources Ltd. said it has received C$1,625,000 in a private placement of units.
The company sold 1,625,000 units at C$1.00 each.
The units include one share and one warrant. The warrants provide for an additional share at C$1.25 each for one year.
In other news, Solid Resources announced that it will begin its infill diamond-drilling program on the Doade-Presqueira property in Spain.
Based in Sherwood Park, Alta., Solid Resources is a rare and precious metals exploration company. It plans to use the proceeds from the deal for working capital, diamond drilling and preliminary metallurgical work on its Doade-Presqueira Concession in Spain.
| Issuer: | Solid Resources Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1,625,000
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| Units: | 1,625,000
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| Price: | C$1.00
|
| Warrants: | One warrant per unit
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| Warrant expiration: | One year
|
| Warrant strike price: | C$1.25
|
| Pricing date: | March 21
|
| Stock price: | C$1.71 at close March 21
|
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