VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 19, 2014) - Solid Resources Ltd. ("Solid" or the "Company") (TSX VENTURE:SRW) announced today it intends to proceed with a non-brokered private placement offering of up to 4,250,000 common shares in the capital of the Corporation ("Common Shares") at a subscription price of Cdn $0.10 per Common Share for gross proceeds of up to Cdn. $425,000.
The securities issued in connection with the private placement will be subject to a four month hold period. Completion of the offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.
The Company intends to use the net proceeds from the offering to fully evaluate the suitability of alternative trading markets that will provide the Company better access to new and existing sources of capital and offer the Company greater flexibility and opportunities to fund its aggressive growth plans for both the Cehegin Iron Ore and Alberta-1 tin/tantalum Spanish projects.
Solid Resources is a Canadian junior mining company focused in Spain on the exploration and development of rare and industrial metals. The Company is currently studying the re-opening the Cehegin iron ore mine in south-eastern Spain and is applying for an exploitation permit on its Alberta-1 tantalum/tin and lithium property in north-western Spain.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.