Soho Resources Corp. (CVE:SOH) plans to raise $750,000 through a non-brokered private financing, the company said Monday.
The gold and silver miner plans to sell 12.5 million units for 6 cents apiece, and intends to use the funds for general corporate purposes.
Each unit consists of one common share of Soho and one half of a two year transferable share purchase warrant.
Each one whole share purchase warrant gives the holder a right to buy one extra common share for 10 cents within two years of the closing date.
The securities issued in the financing have a four month hold period that that expire four months and one day after closing date.
Closing of the financing is subject to approval of the TSX Venture Exchange.
Soho is an exploration and development company focused on gold, silver and base metals in the prolific Sierra Madre Belt of Mexico.
The company holds 99.4 percent of its Mexican subsidiary that maintains 100 percent ownership in the 9,081-hectare Tahuehueto property, an advanced stage gold and base metal exploration development project.
It also holds an option to buy a 100 percent stake in the 4,332-hectare Jocuixtita silver project where it currently is conducting a first stage exploration drilling program.
Shares were down 9.09 percent falling to 0.050 cents each Monday afternoon on Torontos junior stock exchange.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
