Solid Resources Ltd. (”Solid” or the “Company”) announces that it has closed a private placement of 17,810,000 Units at a price of $.05 per Unit for total gross proceeds of $890,500.00. Each unit consists of one Common Share and one Common share Purchase Unit. Each Warrant is exercisable for a period of 24 months at a price of $.10 if exercised during the first twelve months and $.20 if exercised thereafter. The common shares of Solid acquired pursuant to this private placement are subject to a four month hold period which will expire in March, 2010. This transaction is subject to the approval of the TSX Venture Exchange.
Certain statements contained in this press release, including statements which are related to exploration activity and future prospects and profitability and which may contain words such as “could”, “should”, “expect”, “believe”, “will” and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances and/or achievements of Solid to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market conditions and prices of tantalum, lithium, tin, silver and other metals and related products and services; competition; political and economic conditions in countries in which Solid does business; changes in laws and regulations, including environmental regulations, to which Solid is subject, and other factors which are described in further detail in Solid’s filings with the Canadian Securities Regulators.
Source: News wire