Softrock Minerals Ltd. ("Softrock" or the "Company") (TSX VENTURE:SFT) is
pleased to announce that the Company plans to issue and sell, on a private
placement basis, up to 2,000,000 units ("Units") of the Company at a price of
$0.07 per Unit. Each Unit will consist of one common share (a "Common Share") of
Softrock and one Common Share purchase warrant (a "Warrant") entitling the
holder thereof to purchase one Common Share at a price of $0.10 per share for a
period of five years; provided that if the volume weighted average trading of
the Common Shares on the TSX Venture Exchange is $0.25 per share or higher for
20 consecutive trading days, the Warrants will expire within 30 days of the
Company giving notice of such. 


Proceeds from the proposed financing will be used for general working capital
purposes.


All securities issued pursuant to the private placement will be subject to a
four-month hold period from the closing date. In connection with the private
placement the Company may pay a finder's fee and issue broker warrants entitling
the holder thereof to acquire Units at a price of $0.07 per Unit for a period of
five years. The private placement is subject to approval from the TSX Venture
Exchange.


This press release contains forward looking statements. More particularly, this
press release contains statements concerning the anticipated closing of the
private placement and the anticipated use of the proceeds of the offering.
Although Softrock believes that the expectations reflected in these forward
looking statements are reasonable, undue reliance should not be placed on them
because Softrock can give no assurance that they will prove to be correct. Since
forward looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. The closing of the private
placement could be delayed if Softrock is not able to obtain the necessary
regulatory and stock exchange approvals on the timelines it has planned. The
private placement will not be completed at all if these approvals are not
obtained or some other condition to the closing is not satisfied. Accordingly,
there is a risk that the private placement will not be completed within the
anticipated time or at all. The intended use of the proceeds of the private
placement by Softrock might change if the board of directors of the Company
determines that it would be in the best interests of Softrock to deploy the
proceeds for some other purpose.


The forward looking statements contained in this press release are made as of
the date hereof and Softrock undertakes no obligation to update publicly or
revise any forward looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


Softrock Minerals (TSXV:SFT)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Softrock Minerals Charts.
Softrock Minerals (TSXV:SFT)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Softrock Minerals Charts.