Solid Resources Complete First Tranche of Private Placement for Gross Proceeds of $307,000

Solid Resources Ltd. (TSXV:SRW) announced the closing of the first tranche of its previously announced private placement. Solid intends to use the proceeds to fund exploration at its Albert-1 tin, tantalum and lithium project and its Cehegin iron ore concessions in Spain.

As quoted in the press release:

The Company has sold 3,837,500 units for total gross proceeds of $307,000 pursuant to the first tranche. The securities issued pursuant to the first tranche are subject to a four month hold period from the date of closing and the warrants are exercisable to acquire an additional common share at a price of $0.15 until March 22, 2015.

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