Source Exploration Corp.
TSX VENTURE : SOP

Source Exploration Corp.

February 23, 2015 08:30 ET

Source Exploration Corp. Announces Over-Subscription of Non-Brokered Private Placement

THUNDER BAY, ONTARIO--(Marketwired - Feb. 23, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Source Exploration Corp. ("Source" or the "Company") (TSX VENTURE:SOP) is pleased to announce an update to the previously announced non-brokered private placement (the "Private Placement") of up to 10,000,000 units of the Company (the "Units") consisting of one common share of the Company and one half of one common share purchase warrant (each whole warrant a "Warrant") at a price of $0.08 per Unit for gross proceeds of up to $800,000. The Private Placement has been oversubscribed and the Company will increase the size of the Private Placement to issue up to a total of 12,725,000 Units at a price of $0.08 per Unit for gross proceeds of $1,018,000. All conditions previously announced will remain the same in the revised offering.

About Source Exploration Corp.

Source is a Canadian based mineral exploration company committed to building long-term value through the discovery, acquisition and advancement of mineral properties. The Company holds an option on the Las Minas gold, silver and copper exploration project located within the Las Minas mining district in the State of Veracruz, Mexico. The district hosts one of the largest underexplored skarn systems known in Mexico and has a strong production history that dates back to the Aztec era.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about the anticipated closing date of the Private Placement, the future exploration results relating to the Las Minas project, exploration plans for the Las Minas project and the exploration potential of the Las Minas project. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither 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.

Contact Information

  • Source Exploration Corp.
    Camille Turner
    Investor Relations
    604-669-7840 or 604-970-8052

    Source Exploration Corp.
    David Baker
    Executive Chairman
    604-817-4211 or 604-970-8052

    Source Exploration Corp.
    Brian Robertson
    President & CEO
    807-474-4270 or 807-251-1816
    807-474-4272 (FAX)
    info@sourceexploration.com
    www.sourceexploration.com