Solid Resources Ltd. (TSXV:SRW,FWB:YRS) has completed its non-brokered private placement for a total of 7,000,000 units representing gross proceeds of $700,000, previously announced on August 9, 2013 .
As quoted in the press release:
Each unit consists of one share and one share purchase warrant, with each warrant exercisable to acquire an additional share until August 14, 2015. The warrants are subject to an accelerated expiry stating that if at any time, after the standard 4 month hold period, the closing price of the Company’s common shares on the TSX Venture Exchange exceeds $0.25 for any 10 consecutive trading days, the warrant holder will be given notice that the warrants will expire 30 days following the date of such notice. The securities issued in connection with the Offering will be subject to a four month hold period that expires on December 15, 2013.