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SYS

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0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:SYS 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 -

Sona Amends Non-Brokered Private Placement

01/05/2013 10:31pm

Marketwired Canada


NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES


Sona Resources Corp. ("the Company" or "Sona") (TSX VENTURE:SYS)(FRANKFURT:QS7)
announces that it has amended the price of its non-brokered private placement
announced on March 18, 2013. The Company will now issue up to 6,666,667 units
(the "Units") at a price of $0.30 per Unit for gross proceeds of up to
$2,000,000.


Each Unit will consist of one common share and one-half of one common share
purchase warrant (a "Warrant"), with each whole Warrant entitling the holder to
purchase, for a period of 24 months following the closing date, one additional
common share of the Company at a price of $0.50 for the first 12 months and
$0.60 thereafter. 


A finder's fee equal to 8% of the gross proceeds raised may be paid to certain
finders for part of the private placement. Additionally, certain finders may
receive finder's warrants (the "Finder's Warrants") equal to 8% of the number of
Units purchased by subscribers introduced by the finders to the Company. Each
Finder's Warrant will be exercisable into a common share of the Company, for a
period of 24 months following the closing date, at a price of $0.50. 


The net proceeds of the financing will be for general corporate expenses and to
undertake further exploration at the Blackdome-Elizabeth Gold Project.


The private placement is subject to TSX Venture Exchange approval and the
securities issued pursuant to the private placement will be subject to a
four-month hold period. 


About Sona Resources Corp.

Based in Vancouver, Sona is a junior gold resource company with a focus on
bringing its Blackdome-Elizabeth Gold Project into full commercial production.
Since its inception in 1990, Sona has engaged in a wide range of mineral
exploration activities in Canada, Mexico and the United States, as well as
small-scale gold production.


Sona owns a 100 percent interest in the former Blackdome Gold Mine in
south-central British Columbia, 250 kilometres north of Vancouver; and the
Elizabeth Gold Deposit Property, 30 kilometres south of Blackdome. At Blackdome,
the mineral resources are estimated to be 52,500 oz. gold, grading 11.29g Au/t
indicated; and 25,900 oz. gold, grading 8.79g Au/t inferred (news release dated
May 4, 2010). At Elizabeth, Sona has outlined an inferred gold resource of
206,100 oz. gold, grading 12.3g Au/t (news release dated June 8, 2009). 


Sona aims to bring the fully permitted Blackdome mill back into production at an
initial rate of 200 tonnes per day, with feed from the formerly producing
Blackdome Gold Mine and trucking feed from the Elizabeth Gold Deposit Property.


On February 13, 2013, Sona announced that it has signed a memorandum of
understanding ("MOU") with China Machinery Engineering Corporation of Beijing
for an engineering, procurement and construction contract ("EPC"). The purpose
of the EPC is to facilitate development of Sona's Blackdome-Elizabeth Gold
Project. On March 13, 2013, Sona announced that the MOU had been extended to May
31, 2013.


Sona also holds a 100 percent interest in the Montgolfier Project in Quebec, 40
kilometres east of the multimillion-ounce Casa Berardi Mine gold deposit.


Mineral resources that are not mineral reserves do not have demonstrated
economic viability.


On behalf of the Board, Nick Ferris, Executive Chairman

This news release contains certain forward-looking statements, and such
statements involve risks and uncertainties. The results or events predicted may
differ materially from actual results or events. Any forward-looking statement
speaks only as of the date of this news release. Except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results, or any other occurrence.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sona Resources Corp.
+1 (604) 684-6677
+1 (604) 684-6678 (FAX)
info@sonaresources.com
www.sonaresources.com


Marston Webb International
Victor Webb
Media Inquiries
+1 (212) 684-6601
+1 (212) 725-4709 (FAX)
marwebint@cs.com

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