Sola Resource Corp.
TSX VENTURE : SL

Sola Resource Corp.

March 16, 2007 08:30 ET

Sola Resource Corp.: Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 16, 2007) - Sola Resource Corp. (TSX VENTURE:SL) (the "Company"), is pleased to announce a non-brokered private placement of up to 10,400,000 Units, for a total amount of CDN$2,600,000 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 24 months from the date of issuance of the Units.

The Offering may be completed in separate tranches.

The Company may pay a finder's fee(s) in accordance with the policies of the TSX Venture Exchange.

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)