ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

SYS

0.00
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 Closes First Tranche of Private Placement

25/07/2013 4:28pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Sona Resources Corp. ("the Company" or "Sona") (TSX VENTURE:SYS) (FRANKFURT:QS7)
is pleased to announce that, further to its news release of July 17, 2013, it
has closed the first tranche of its non-brokered private placement (the "Private
Placement") of 3,665,000 units (the "Units") at an offering price of $0.30 per
Unit, for gross proceeds of $1,099,500. Each Unit consists of one common share
and one-half of one 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. The sole subscriber in this tranche of the Private
Placement was Lu'An (Canada) Capital & Energy Investment Inc. ("LCE") who, as a
result of their subscription, is now an "insider" of the Company pursuant to
applicable securities laws. 


In connection with the Private Placement, Canada Asia Business Network (the
"Finder") has received: (i) an aggregate of 293,200 non-transferable finder's
warrants (the "Finder's Warrants") equal to 8% of the number of Units purchased
by subscribers introduced by the Finder to the Company, with each Finder's
Warrant being exercisable into a common share of the Company at a price of $0.30
per share until July 23, 2015; and (ii) a cash finder's fee in the amount of
$87,960 equal to 8% of the total subscription amount of the number of Units
purchased by subscribers introduced by the Finder to the Company.


All securities issued pursuant to the Private Placement will be subject to a
four-month hold period expiring on November 24, 2013. The proceeds of the
financing will be used for exploration and development work on the Elizabeth
Gold Property and the Blackdome Gold Mine, and for working capital requirements.


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 144,500 tonnes grading 11.29g Au/t
containing 52,500 oz. gold, indicated; and 90,600 tonnes grading 8.79g Au/t
containing 25,900 oz. gold inferred (news release dated May 4, 2010). At
Elizabeth, Sona has outlined an inferred gold resource of 523,000 tonnes grading
12.26g Au/t containing 206,100 oz. gold (news release dated June 8, 2009). 


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


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.


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. On
July 15, 2013, Sona announced the acquisition of the high prospective Mineral
Creek Gold-Silver Project near Port Alberni, British Columbia.


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.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sona Resources Corp.
Suite 320, 145 17th Street
North Vancouver, BC, Canada V7M 3G4
+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

1 Year Sona Resources Corp. Chart

1 Year Sona Resources Corp. Chart

1 Month Sona Resources Corp. Chart

1 Month Sona Resources Corp. Chart

Your Recent History