Solitaire Minerals Corp. Closes Private Placement
July 08 2010 - 4:35PM
Marketwired
Solitaire Minerals Corp. (TSX VENTURE: SLT) (Solitaire) would like
to announce that the non-brokered private placement announced on
June 15th, 2010 has closed. The Company raised $545,250 at a price
of $0.05 per share.
A total of 6,845,000 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 a period of two years.
A total of 4,060,000 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 a period of two years.
Shares, warrants and any shares issued upon exercise of the
warrants are subject to a hold period of four months expiring
November 8, 2010. The proceeds of the private placement will be
used for exploration of the company's mineral properties and
general working capital.
The following pros and insiders participated in the private
placement;
Pro group: Kerry Chow 1,600,000 flow through, Ivano Veschini
200,000 non-flow-through
Insider Group: Charles Desjardins 100,000 flow-through
Finders' fees: $30,000 cash and 600,000 warrants (same terms as
private placement above) payable to PI Financial Corp. $3,500 cash
and 70,000 warrants (same terms as above) payable to Bolder
Investment Partners. $1,000 cash and 20,000 warrants (same terms as
above) payable to Union Securities Ltd.
About Solitaire Minerals Corp.
Solitaire Minerals Corp. (TSX VENTURE: SLT) is a diversified
Junior Canadian Mineral Exploration Company with a specific focus
on precious and base metal properties in North America. In
addition, the Company intends to acquire Metallurgical coal leases.
Solitaire continues to negotiate for coal leases with near and long
term production potential.
For additional information please contact Solitaire Minerals
Corp. or visit www.solitaireminerals.com.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
Charles Desjardins, President and Director
Cautionary note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. By their nature, forward
looking statements involve risk and uncertainties because they
relate to events and depend on factors that will or may occur in
the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing,
currency exchange rates, and, but not limited to, general economic
factors. Cautionary Note to US investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain
terms, such as "reserves" unless such figures are based upon actual
production or formation tests and can be shown to be economically
and legally producible under existing economic and operating
conditions.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Solitaire Minerals Corp. Charles Desjardins President
and Director 604-683-5445 604-687-9631 (FAX)
info@solitaireminerals.com www.solitaireminerals.com
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