Proceeds to fund exploration of Blackdorne-Elizabeth gold project
By Toni Weeks
San Luis Obispo, Calif., March 18 - Sona Resources Corp. said it will raise up to C$2 million via a non-brokered private placement of units.
The company will sell up to 5 million units of one common share and one half-share warrant at C$0.40 apiece.
Each two-year warrant is exercisable at C$0.50 for the first year and at C$0.60 for the second year. The strike prices represent 6.38% and 27.66% premiums to the March 12 closing share price of C$0.47.
Proceeds will be used for general corporate expenses and further exploration at the Blackdorne-Elizabeth Gold Project.
Vancouver, B.C.-based Sona is a gold exploration company.
| Issuer: | Sona Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | Up to 5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | C$0.50, C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | March 18
|
| Stock symbol: | TSX Venture: SYS
|
| Stock price: | C$0.47 at close March 13
|
| Market capitalization: | C$9.74 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
