|By Marketwired .||
|February 4, 2014 03:07 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/04/14 -- Soltoro Ltd. (TSX VENTURE:SOL) ("Soltoro" or the "Company") is pleased to announce it has closed a non-brokered private placement of an aggregate of 9,750,000 units (the "Units") at a price of $0.10 per Unit for total gross proceeds of $975,000 (the "Offering").
Each Unit consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share until February 4, 2016 (the "Expiry Date") at an exercise price of $0.15 per Common Share until the Expiry Date.
In connection with the financing, the Company has paid to eligible persons (the "Finders") a cash finder's fee of an aggregate of $38,150 and has issued 381,500 finder's warrants ("Finder's Warrants") equal to 7% of the aggregate number of Units placed by the Finders in the Offering. Each Finder's Warrant is exercisable to acquire one Unit at a price of $0.10 per Unit until February 4, 2016.
Six directors and officers of the Company participated in the Offering, subscribing for an aggregate of 780,000 Units. In addition, Ernesto Echavarria subscribed for an aggregate of 2,500,000 Units in the Offering for gross proceeds to the Company of $250,000. Upon completion of the Offering, Mr. Echavarria holds an aggregate of 11,526,700 Common Shares representing approximately 16.58% of the issued and outstanding Common Shares.
The Common Shares and Warrants issued as Units pursuant to the Offering will be subject to a four month regulatory hold period commencing from the date of closing. The Offering is subject to TSXV acceptance of requisite regulatory filings.
Net proceeds of this private placement will be used to further the Company's exploration projects, fund possible new acquisitions and for general working capital. All securities issued pursuant to the private placement are subject to a four month and one day hold period.
Soltoro is a junior exploration company exploring for bulk tonnage gold, silver and copper deposits in Mexico. The Company continues to develop its El Rayo silver-gold project to expand the existing NI 43-101 compliant primary silver resource. Soltoro has also recently completed a mapping and sampling program at its Pena Grande project; and is actively advancing its Victoria, Quila, Tortuga, Chinipas and El Santuario projects. Upon completion of the Offering, Soltoro has 69,533,037 common share issued and outstanding and trades on the TSX Venture Exchange under the symbol "SOL".
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
Aug. 24, 2016 02:00 PM EDT Reads: 1,817
Aug. 24, 2016 02:00 PM EDT Reads: 378
Aug. 24, 2016 12:30 PM EDT Reads: 2,526
Aug. 24, 2016 12:15 PM EDT Reads: 1,787
Aug. 24, 2016 12:00 PM EDT Reads: 3,829
Aug. 24, 2016 11:45 AM EDT Reads: 1,426
Aug. 24, 2016 11:45 AM EDT Reads: 3,342
Aug. 24, 2016 11:00 AM EDT Reads: 377
Aug. 24, 2016 11:00 AM EDT Reads: 2,077
Aug. 24, 2016 10:48 AM EDT Reads: 335
Aug. 24, 2016 10:45 AM EDT Reads: 1,788
Aug. 24, 2016 10:30 AM EDT Reads: 447
Aug. 24, 2016 10:19 AM EDT Reads: 302
Aug. 24, 2016 10:00 AM EDT Reads: 444
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 24, 2016 09:45 AM EDT Reads: 437