Sona Announces Private Placement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/11 -- Sona Resources Corp. ("the Company" or "Sona") (TSX VENTURE: SYS)(FRANKFURT: QS7) is pleased to announce that it intends to proceed with a non-brokered private placement of 857,142 flow-through units (the "Units") at an offering price of $0.70 per Unit, for gross proceeds of $600,000. Each Unit will consist of one flow-through common share and one-half of one warrant (a "Warrant"), with each whole Warrant entitling the holder to purchase, for a period of 24 months following the closing date, one additional common share of the Company at a price of $0.85 in the first 12 months, and at $1.00 thereafter.
In connection with the private placement, certain finders may receive common shares ("Finder's Shares") equal to 4% of the aggregate Units sold by the Company at a deemed price of $0.70 per Finder's Share and finder's warrants ("Finder's Warrants") equal to 8% of the number of Units purchased by subscribers introduced by the finders to the Company. Each Finder's Warrant will be exercisable into a common share of the Company upon the same terms and conditions as the Warrants comprising the Units.
The net proceeds of the financing will be used to undertake further exploration at the Elizabeth Gold Property and Blackdome Gold Mine.
The private placement is subject to TSX Venture Exchange approval and the securities issued pursuant to the private placement will be subject to a four-month hold period.
About Sona Resources Corp.
Since its inception in 1990, Sona has engaged in exploration activities at its mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the 100 percent owned Blackdome Gold Mine, in south-central British Columbia, 250 kilometres north of Vancouver. At Blackdome, the indicated mineral resources are estimated at 144,500 tonnes, grading 11.29g Au/t and containing 52,600 ounces of gold; and the inferred resource is estimated at 90,600 tonnes, grading 8.79g Au/t (news release dated May 4, 2010). At its 100 percent owned Elizabeth Gold Deposit Property, 30 kilometres south of the Blackdome Gold Mine, Sona has outlined an inferred gold resource of 522,900 tonnes, grading 12.3g Au/t and containing 206,100 ounces of gold (news release dated June 8, 2009).
Sona aims to bring its permitted Blackdome mill back into production over the next two years at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome Gold Mine and the Elizabeth Gold Deposit Property. A positive Preliminary Economic Assessment by Micon International Ltd. (news release dated May 28, 2010), based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered.
Sona also holds a 100 percent interest in the Montgolfier Project, located in Quebec, 40 kilometres east of the multimillion-ounce Casa Berardi Mine gold deposit.
This news release contains certain forward-looking statements, and such statements involve risks and uncertainties. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or any other occurrence.
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.
Contacts:
Sona Resources Corp.
+1 (888) 236-5200
+1 (604) 684-6678 (FAX)
Marston Webb International
Victor Webb/Madlene Olson
+1 (212) 684-6601
+1 (212) 725-4709 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 01.11.2011 - 18:57 Uhr
Sprache: Deutsch
News-ID 82671
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 192 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sona Announces Private Placement"
steht unter der journalistisch-redaktionellen Verantwortung von
Sona Resources Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
