![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Soho Resources Corp. | TSXV:SOH | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
Soho Resources Corp. (TSX VENTURE:SOH) ("Soho" or the "Company") announces that it has arranged a non-brokered private placement of up to 30,000,000 units of the Company. Each unit is priced at $0.10 per unit, resulting in gross proceeds of up to $3,000,000. Each unit is comprised of one common share of the Company and one half of a share-purchase warrant. Each one whole share purchase warrant entitles the holder thereof to purchase one additional common share of the Company at $0.15 within one year of its date of issuance. The Company also reserves an overallotment option of up to 4,500,000 units, being 15% of the offering. Finder's fees calculated in accordance with TSX Venture Exchange guidelines are payable on a portion of the placement. All securities issued under the non-brokered private placement are subject to a hold period expiring four months and one day after the closing date. Closing of the Private Placement is subject to approval of the TSX Venture Exchange. USE OF PROCEEDS Approximately $1.5 million will be used to commence collection of data to advance the Tahuehueto Project into pre-feasibility studies. Work will consist of one or more of the following initiatives: -- geotechnical slope stability drilling at the Cinco de Mayo zone in order to prove stability of the cliff face above the zone so that the zone may be brought into the open-pit mining plan -- core drilling within the resource zones as required in order to increase confidence of the inferred resource into measured and indicated resources as required for pre-feasibility and feasibility studies. -- collection of environmental data necessary for pre-feasibility and feasibility studies for future mine planning Approximately $400,000 will be used to fund a preliminary exploration program on the Jocuixtita Project. This program would include: -- initial surface work of geological mapping, trenching and possibly geophysics -- a diamond drilling program in order to test the principal zone(s) on the Project strongly mineralized in silver, lead and zinc. Approximately $1.1 million will be used for general and administrative corporate purposes including, a marketing program within North America and Europe, the whole or partial repayment of certain convertible loans (loans announced on July 26, 2010), and ongoing working capital. ON BEHALF OF THE BOARD OF DIRECTORS Ralph Shearing, Chief Executive Officer WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.
1 Year Soho Resources Corp. Chart |
1 Month Soho Resources Corp. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions