Non-Brokered Private Placement of Up to $2,600,000 Announced by Source Exploration Corp.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Source Exploration Corp. (TSXV:SOP) has arranged a non-brokered private placement of up to 10,000,000 units of the Company at a price of $0.26 per Unit for gross proceeds of up to $2,600,000.

As quoted in the press release:

Each Unit will consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company for a period of twelve months from the closing date of the Offering at a price of $0.60 per common share, provided that the Company will have the right to accelerate the expiry date on notice to the Warrant holders if the closing price of its common shares on a stock exchange in Canada is higher than $0.80 per common share for a period of 20 consecutive trading days after four months from the closing date of the Offering, in which case the Warrants will expire 30 days after the date on which such notice is given.

Click here to read the Source Exploration Corp. (TSXV:SOP) press release