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Solid Resources Announces Non-Brokered Private Placement

Aug 9 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/09/13 -- Solid Resources Ltd. ("Solid" or the "Company") (TSX VENTURE: SRW) (FRANKFURT: YRS) announced today it intends to proceed with a non-brokered private placement offering of units ("Units") at a subscription price of Cdn $0.10 per Unit. Each Unit will consist of one (1) common share in the capital of Solid and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share in the capital of Solid at a price of Cdn. $0.15 until the date that is twenty-four (24) months from the initial Closing Date. The amount to be raised under the private placement is up to Cdn. $500,000 for a total of up to 5,000,000 common shares.

The securities issued in connection with the private placement will be subject to a four month hold period. A finder's fee may be payable in accordance with the policies of the TSX. Completion of the offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.

The Company intends to use the proceeds from the Offering to fund exploration of the Company's Doade-Presqueiras Tin, Tantalum and Lithium project in north-western Spain and the Cehegin Iron Ore concessions in south-eastern Spain, plus general working capital.

Solid Resources is a Canadian junior mining company focused in Spain on the exploration and development of rare and precious metals and industrial commodities worldwide. The Company is currently in the late stage of quantifying the presence of tantalum, tin, lithium and other rare minerals on its Alberta-1 property in north-western Spain and re-opening 62 iron ore concessions in south-eastern Spain.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Solid Resources Ltd.
Greg Pendura
President & CEO
(780) 800-0726
www.solidresources.com

Renmark Communications Inc.
Robert Thaemlitz
416-644-2020 or 514-939-3989
rthaemlitz@renmarkfinancial.com

Renmark Communications Inc.
Nadia Marks
416-644-2020 or 514-939-3989
nmarks@renmarkfinancial.com
www.renmarkfinancial.com





Source: Marketwire


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