Sola Resource Corp.
TSX VENTURE : SL

Sola Resource Corp.

November 08, 2006 13:39 ET

Sola Resource Corp.: Private Placement

CALGARY, ALBERTA--(CCNMatthews - Nov. 8, 2006) - Sola Resource Corp. (the "Company") (TSX VENTURE:SL), is pleased to announce a non-brokered private placement of up to 2,000,000 Units, for a total amount of CDN$500,000.00 in the capital of the Company (the "Offering"). Each Unit will be comprised of one common share and one non-transferable share purchase warrant (the "Warrant" or "Warrants"). Each Unit will be priced at CDN$0.25 and each two warrants will entitle the holder to purchase one common share of the Company at an exercise price of CDN$0.40, for a period of 12 months from the date of issuance of the Units.

The Company may pay a finder's fee(s) in accordance with the policies of the TSX Venture Exchange. Warrants issued as finder's fees, if any, will be exercisable for two years at CDN$0.40.

The Company will use the proceeds of the Offering for the exploration and development of its mineral resource properties in Brazil, including the commencement of testing of its diamondiferous kimberlite pipe located thereon, and for working capital and general corporate purposes.

We seek safe harbour.

ON BEHALF OF THE BOARD OF DIRECTORS OF SOLA RESOURCE CORP.

Thomas Kovacs, President


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

Contact Information

  • Sola Resource Corp.
    Thomas Kovacs
    President
    (403) 236-0339
    (403) 203-3584 (FAX)