Solitaire Minerals Corp. Closes Private Placement
April 26 2011 - 5:18PM
Marketwired
Solitaire Minerals Corp. (TSX VENTURE: SLT) (Solitaire) would like
to announce that it has closed the Non-Brokered Private Placement
announced April 5th 2011. Solitaire raised $645,000 at a price of
$0.05 per share.
A total of 5,800,000 units were issued as non-flow-through units
consisting of one common share and one share purchase warrant. One
warrant will entitle the holder to purchase one additional common
share of the company at a price of $0.10 per share in the first
year, $0.12 per share in the second year, and $0.15 per share in
the third year.
A total of 7,100,000 units were issued as flow-through units
consisting of one common share and one-half of one share purchase
warrant. One warrant will entitle the holder to purchase one
additional common share of the company at a price of $0.10 per
share in the first year, $0.12 per share in the second year, and
$0.15 per share in the third year.
Shares, warrants and any shares issued upon exercise of the
warrants are subject to a hold period of four months expiring
August 21st 2011. The proceeds of the private placement will be
used for exploration of the company's mineral properties and
general working capital.
The following pros participated in the private placement:
Pro group: Pinetree Resource Partnership 2,000,000
non-flow-through; Ivano Veschini 380,000 flow-through shares; Kerry
Chow 1,700,000 flow-through shares.
Finders' fees: Haywood Securities Inc. receives $53,500 and
1,070,000 non-transferable share purchase warrants, each
exercisable for one share at a price of $0.10 for a three year
period.
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.
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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