Non-brokered offering to fund data collection at Tahuehueto Project
By Devika Patel
Knoxville, Tenn., June 22 - Soho Resources Corp. announced it plans a C$1.5 million non-brokered private placement of units with a C$375,000 greenshoe.
The company will sell 15 million units of one common share and one half-share warrant at C$0.10 per unit.
Each whole two-year warrant will be exercisable at C$0.13 in the first year and at C$0.175 in the second. The strike prices are 62.5% and 118.75% premiums to the June 21 closing share price of C$0.08.
Proceeds will be used for pre-feasibility data collection at the company's Tahuehueto Project, to expand the current drilling program at its Jocuixtita Silver project and for general corporate purposes, including marketing.
Soho is a gold, silver and base metals exploration company based in Vancouver, B.C.
| Issuer: | Soho Resources Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.5 million
|
| Greenshoe: | C$375,000
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike prices: | C$0.13 in the first year, C$0.175 in the second
|
| Agent: | Non-brokered
|
| Pricing date: | June 22
|
| Stock symbol: | TSX Venture: SOH
|
| Stock price: | C$0.08 at close June 21
|
| Market capitalization: | C$14.84 million
|
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