Sonoma Resources Inc. Announces Private Placement
08.10.2013 | Marketwire
VANCOUVER, Oct. 8, 2013 - Sonoma Resources Inc. (TSX VENTURE:SRQ) announces that it will proceed with a non- brokered Private Placement of up to 2,000,000 units of Sonoma at a price of $0.05 per unit for proceeds to the Company of up to $100,000. Each Unit consists of one common share of Sonoma and one non-transferable share purchase warrant entitling the holder to acquire one additional common share of Sonoma at a price of $0.10 per common share for a period of twelve (12) months from the date of the issuance of the purchase warrant with a forced exercise provision attached to each warrant commencing on the day following the expiry of any applicable hold period on the underlying Common Share, stating that if, for ten consecutive trading days, the closing price of the listed shares of the Company exceeds $0.40 then the exercise period of the warrants will be reduced to a period of 10 days following such trading days.The offering is being made on a private placement basis pursuant to registration and prospectus exemptions of applicable securities laws and is subject to acceptance by the TSX Venture Exchange. All securities issued will be subject to a four-month restricted period and will bear a restrictive legend accordingly. Net proceeds from the offering will be used for working capital and to complete due-diligence on any new management and projects.
On behalf of the Board of Directors
Scott Young
Managing Director
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
Sonoma Resources Inc.
778-372-2891