Soldi Ventures Inc.

Soldi Ventures Inc.

March 16, 2010 18:34 ET

Soldi Completes Its Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2010) - Soldi Ventures Inc. (TSX VENTURE:SOV) (the "Company") announces that, effective March 15, 2010, the Company has completed its qualifying transaction (the "Transaction"). The Company received the final exchange bulletin for the Transaction from the TSX Venture Exchange on March 15, 2010. Peter Dickie has been appointed to the Company's board of directors. Zahara Kanji-Aquino has been appointed as Chief Financial Officer and Doug McFaul has been appointed Corporate Secretary.

The Company would also like to announce that it has closed a non-brokered private placement (the "Placement") of 3,000,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of $300,000. Each Unit is comprised of one common share and one share purchase warrant (a "Warrant"). Each Warrant is exercisable into a common share of the Company at a price of $0.12 in the first year and at a price of $0.15 per share in the second year after issuance. In conjunction with the Placement, the Company paid finders' fees to two finders totaling $25,800 in cash and the issuance of 258,000 warrants (the "Broker Warrants"). The Broker Warrants have the same terms as the Warrants. The securities issued pursuant to the Placement carry certain hold periods ending June 23, 2010. The proceeds from the Placement have been added to the Company's working capital.

The Company has acquired an option (the "Option") from Rubicon Minerals Corp. to acquire a 100% interest in 14 mineral claims (76 units) (the "Property") in two non-contiguous blocks. The Property is 1,216 hectares in size. It is located in the Dogpaw Lake Area, approximately 70 kilometers southeast of Kenora and approximately 16 kilometers southeast of Sioux Narrows, Ontario.

A National Instrument 43-101 report (the "Report") concerning the Property entitled "Technical Report On the Flint Lake Property Kenora Mining Division, Northwestern Ontario" dated November 11, 2009 has been prepared by Des Cullen , P.Geo. The Report may be reviewed on

In order for the Company to exercise its Option and earn an undivided 100% right, title and interest in the Property, the Company:

  • upon execution of the agreement, pay to the Optionor $12,500 cash (paid);
  • on issuance by the Exchange of the Final Bulletin for the Transaction, issue 100,000 common shares to the Optionor (issued);
  • on or before the first anniversary date of the Option agreement, pay to the Optionor an additional $12,500 cash, and issue 100,000 common shares.
  • on or before the second anniversary date of the Option agreement, issue to the Optionor an additional 100,000 common shares; and
  • on or before the third anniversary date of the Option agreement, must issue to the Optionor an additional 100,000 common shares.

In summary, over the three year term of the Option Agreement, the Company must pay to the Optionor $25,000 cash, and issue 400,000 common shares if it chooses to exercise its Option. 

The Property is subject to a net smelter royalty ("NSR") payable to the Optionor equal to 1.5%. The Company may acquire 0.05% (such that a 1.0% NSR will remain with the Optionor) at any time for the payment of CDN $1,000,000.

The Company's common shares are listed 0n Tier 2 and the common shares resumed trading on the Exchange on March 16, 2010 under the symbol "SOV".

On behalf of the board of


Per: "Charles Desjardins"

Charles Desjardins
President, CEO and Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.

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