Source Exploration Starts $800,000 Private Placement

 Source Exploration (TSXV:SOP) has announced the start of a private placement of up to 10 million units to raise proceeds of $800,000. The proceeds from the placement will be used to continue exploring the company’s Las Minas project in Mexico as well as for general working capital purposes.

According to 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 twenty-four months from the closing date of the Private Placement (subject to early expiry) at a price of $0.08 per common share.

The proceeds from the Private Placement will be used to continue exploration on the Company’s Las Minas project located in the State of Veracruz, Mexico, and for general working capital purposes.

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