Soho Resources Corp.

Soho Resources Corp.

September 16, 2010 10:48 ET

Soho Resources Corp. Closes Second Tranche of Convertible Debenture Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2010) - Soho Resources Corp. (TSX VENTURE:SOH) ("Soho" or the "Company") announces that the second and final tranche of the non-brokered private placement of convertible debenture units announced on July 14, 2010 and July 26, 2010 has closed.

This second tranche of the private placement consisted of principal amount $300,000 convertible debenture units ("Units") at a price of $1,000 per Unit, each Unit consisting of a $1,000 principal amount of convertible debentures (the "Convertible Debentures") and 20,000 transferable common share purchase warrants ("Warrants"). Each Warrant is exercisable into one common share in the capital of the Company ("Warrant Share") for a period of two years from the date of issue, at an exercise price of $0.10 per Warrant Share.

The Convertible Debentures are unsecured, non interest-bearing and are convertible into common shares of the Company from the date of issue, at the option of the holder, at a price of $0.05 per common share. The conversion is conditional upon the Company completing a consolidation of its share capital on not less than a two for one basis or such other consolidation ratio as recommended by the Company's board of directors and approved by shareholder at the Company's next AGM to be held on October 21, 2010.

In addition, the Company paid to the holder of the Units a bonus of 20% of the principal amount of the Convertible Debentures, payable in common shares of the Company at an issue price of $0.05 per common share.


Ralph Shearing, Chief Executive Officer

WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.

Shares Issued152,813,693

Last Close 2010/09/15 C$0.045

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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