Soho Resources Corp.
TSX VENTURE : SOH

Soho Resources Corp.

April 13, 2007 14:27 ET

Soho Resources Raising $12.2 Million In Private Placements

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 13, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Mr. Frank Port reports,

SOHO RESOURCES CORP. (TSX VENTURE:SOH) is pleased to report that Macquarie North America Ltd. ("Macquarie") will invest approximately C$1.4 million through a newly arranged private placement financing in order to maintain its current 9.9% interest in the Company.

Also, due to excess demand, the Company has increased the previously announced $10-million brokered private placement by $800,000 to now total, C$10.8 million. This C$10.8 million placement has been arranged with a syndicate of Agents led by Cormark Securities Inc. (formerly Sprott Securities Inc.) and including Westwind Partners Inc. (the "Agents") (the "Brokered Private Placement").

Macquarie will invest C$1.4 million to acquire 2.8 million units priced at C$0.50 per unit to maintain its 9.9% interest in Soho Resources. Each unit consists of one common share and one half of one common share purchase warrant with one whole warrant exercisable for two years at C$0.70 (the "Macquarie Placement").

The Brokered Private Placement is also priced at C$0.50 per unit, with each unit consisting of one common share and one-half of one common share purchase warrant with one full warrant exercisable for two years at C$0.70. The Agents will receive cash commission equal to 6% of the gross proceeds raised under the Brokered Private Placement. The Agents will also receive that number of Broker Warrants equal to 6% of the number of units sold under the Brokered Private Placement. Each Broker Warrant entitles the Agents to purchase one unit (a "Broker Unit") at a price of C$0.50 per Broker Unit for two years from closing. Each Broker Unit will consist of one common share and one-half of one common share purchase warrant (a "Broker Unit Warrant"). Each whole Broker Unit Warrant entitles the Agents to acquire one common share at C$0.70 per Broker Unit Warrant for two years from closing.

The combined Macquarie Placement and Brokered Private Placement will generate total gross proceeds of $12.2 million. Soho Resources will use the net proceeds from both placements to fund exploration and development of its mineral properties in Mexico, and for general corporate purposes.

Soho Resources is currently conducting a drilling program to define resources at five priority zones at its wholly owned Tahuehueto project in Durango State, Mexico. Exploration programs to date at the 8,894-hectare project have confirmed the presence of at least 12 mineralized zones within a structurally controlled epithermal system traced for more than six kilometres.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Shares Issued - 74,841,913

Last Close 2007/04/12 C$.58

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

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