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Solid Resources Ltd. (TSXV:SRW,OTCQX:SLDRF,FWB:YRS) has closed the non-brokered private placement of Units for aggregate gross proceeds of $312,920.
As quoted in the press release:
The Company has issued a total of 3,129,200 Units at a price of $0.10 per Unit. Each Unit consists of one Common Share and one Common Share Purchase Warrant. Each Warrant is exercisable into one additional Common Share for a period of 24 months after the closing at a price of $0.15 per Common Share, 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. The securities issued in connection with the Offering will be subject to a four month hold period that expires May 7, 2012.
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