By Devika Patel
Knoxville, Tenn., June 11 - Sola Resource Corp. said it has re-priced a non-brokered private placement of units to raise C$1 million. The deal was announced in April as a C$600,000 financing.
The company will sell 20 million units of one common share and one warrant at C$0.05 apiece. Each warrant will be exercisable at C$0.15 for two years.
Proceeds will be used for the exploration and development of Sola's mineral resource properties in Brazil and for working capital and general corporate purposes.
Calgary, Alta.-based Sola is a mineral exploration company.
| Issuer: | Sola Resource Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | April 17
|
| Amended: | June 11
|
| Stock symbol: | TSX Venture: SL
|
| Stock price: | C$0.06 at close April 17
|
| Market capitalization: | C$4.48 million
|
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