Solid Resources Ltd. (TSXV:SRW,OTCQX:SLDRF,FWB:YRS) has closed the non-brokered private placement for gross proceeds of $250,000. Each Unit was at a price of $0.06 and a total of 4,166,666 Units were issued.
As quoted in the press release:
Each Unit consists of one Common Share and one Common Share Purchase Warrant. Each Warrant will entitle the holder thereof to purchase one (1) common share in the share capital of the Corporation (a “Warrant Share”) at a price of $0.15 at any time prior to 4:30 p.m. (Vancouver time) on the date that is twenty four (24) months from the date of the issuance of the Units, subject to earlier termination in the event that the closing price (or closing bid price on days when there are no trades) of the common shares on the TSX Venture Exchange exceeds $0.25 for 20 consecutive trading days, then upon the Corporation sending subscribers written notice of such date and issuing a news release announcing such date, the Warrant will only be exercisable for a period of 30 days following the date on which such written notice is sent to the subscribers.