By Laura Lutz
Des Moines, April 9 - Sola Resource Corp. announced that it raised C$2.661 million from its private placement of units, up from the C$2.6 million size planned when the deal priced on March 16.
The company sold units of one share and one non-transferable warrant at C$0.25 per unit. Each two warrants will be exercisable for one common share at C$0.40 for two years.
The non-brokered offering closed on April 2.
Proceeds will be used for exploration and development of the company's Brazil properties, for working capital and for general corporate purposes.
Sola is a resource exploration company based in Calgary, Alta.
| Issuer: | Sola Resource Corp.
|
| Issue: | Units of one share and one non-transferable warrant
|
| Amount: | C$2.661
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | C$0.40
|
| Warrant strike price: | Two warrants exercisable for one share at C$0.40 per share
|
| Agent: | Non-brokered
|
| Pricing date: | March 16
|
| Settlement date: | April 2
|
| Stock symbol: | TSX Venture: SL
|
| Stock price: | C$0.315 at close March 15
|
| Stock price: | C$0.53 at close April 2
|
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