Soltoro Ltd.

Soltoro Ltd.

January 30, 2007 16:23 ET

Soltoro Completes $650,000 Private Placement

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2007) - Soltoro Ltd. (TSX VENTURE:SOL) has completed a non-brokered private placement of 1,000,000 units (the "Units") at a price of $0.65 per Unit, for gross proceeds of $650,000. Each Unit is comprised of one common share and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one additional common share for a period of 24 months from closing at an exercise price of $0.75 per share. In the event the shares of Soltoro trade above $1.25 for a period of 20 trading days following the hold period, Soltoro may accelerate the expiry date of the warrants by providing 30 days notice to the holder.

All shares, warrants and any shares issued upon exercise of the warrants with respect to the above private placement are subject to a hold period and may not be traded for four months plus one day from the date of issuance. No finders fees are due or payable for this private placement offering.

Soltoro is a junior exploration company active in Mexico with 18,023,600 shares outstanding prior to the current placement. The Company is exploring for gold, silver and copper deposits in Mexico with a management team that has been active in Mexico since 1993. Shares trade on the TSX Venture Exchange under the symbol SOL. Soltoro is well financed with over $3.1 M in cash.

On behalf of the board,

Andrew Thomson, President

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

Contact Information

  • Soltoro Ltd.
    Andrew Thomson
    (416) 987-0722