Soldi Announces Share Consolidation, Name Change and Financing
November 25, 2013 (Source: Marketwired) – Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) reports that the Board of Directors has approved, subject to the approval of the TSX Venture Exchange, a consolidation of the Company’s common shares on the basis of up to one (1) post-consolidated share for every ten (10) pre-consolidated shares (the “Consolidation”). In addition, the Company also proposes to change its name to Vega Mining Inc.
Currently, the Company had 40,201,168 issued and outstanding common shares. Following the Consolidation, the Company will have approximately 4,020,116 shares outstanding. No fractional shares will be issued, but will instead be rounded as provided for in the Business Corporations Act (British Columbia).
The Company further announces that it has arranged, post consolidation, a non-brokered private placement of up to 5,000,000 units for total proceeds of up to $250,000; subject to the approval of the TSX Venture Exchange. Up to 5,000,000 units will be issued as non flow-through units at a price of $0.05 per unit consisting of one common share and one whole warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for eighteen (18) months from the date of closing. The proceeds of the private placement will be used for exploration activities on its graphite properties and for general working capital. Finder’s fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering
Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior exploration company focused on discovering gold and graphite deposits in politically safe jurisdictions.
On behalf of the board of SOLDI VENTURES INC.
Archie Boyce, President
Get our daily investorintel update
“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.”
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>