Sona Closes $600,000 Flow-Through Financing
09 Novembre 2011 - 6:47PM
Marketwired
Sona Resources Corp. ("the Company" or "Sona") (TSX
VENTURE:SYS)(FRANKFURT:QS7) is pleased to announce that it has
closed a non-brokered private placement (the "Private Placement")
in the amount of $600,000 with the MineralFields Group.
Pursuant to the Private Placement, the Company issued an
aggregate of 857,142 flow-through units (the "Units") of the
Company. Each Unit is priced at $0.70 and consists of one
flow-through common share and one-half of one transferable warrant
(a "Warrant"), with each whole Warrant entitling the holder to
purchase one common share of the Company until November 9, 2013 at
an exercise price of $0.85 in the first 12 months, and at $1.00
thereafter.
In connection with the private placement, Limited Market Dealer
Inc. (the "Finder") has received: (i) an aggregate 34,285 common
shares ("Finder's Shares") equal to 4% of the aggregate Units
purchased by subscribers introduced by the Finder to the Company at
a deemed price of $0.70 per Finder's Share; (ii) an aggregate
68,571 non-transferable finder's warrants ("Finder's Warrants")
equal to 8% of the number of Units purchased by subscribers
introduced by LMDI to the Company, with each Finder's Warrant being
exercisable into a common share of the Company upon the same terms
and conditions as the Warrants comprising the Units.
All the securities of Sona issued in the Private Placement are
subject to a hold period which under the applicable securities laws
and the TSX Venture Exchange policies expires on March 10,
2012.
"We are very pleased to be entering into this relationship with
MineralFields Group", said John P. Thompson, President & Chief
Executive Officer of Sona. "This is an important milestone in the
growth of Sona Resources Corp. and we look forward to working with
MineralFields group as we continue to develop our mineral
properties in British Columbia."
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 the final acceptance
by TSX Venture Exchange.
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.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management),
based in Toronto, Vancouver, Montreal and Calgary, is a mining fund
with significant assets under administration that offers its
tax-advantaged super flow-through limited partnerships to investors
throughout Canada as well as hard-dollar resource limited
partnerships to investors throughout the world. The sector focus is
on gold and precious metals, base metals, rare earths and lithium,
potash, uranium, oil, coal and gas. Pathway Asset Management also
specializes in the manufacturing and distribution of structured
products and mutual funds (including the Pathway Multi Series Fund
Inc. corporate-class mutual fund series). Information about
MineralFields Group is available at www.mineralfields.com. First
Canadian Securities ® (a division of Limited Market Dealer Inc.) is
active in leading resource financings (both flow-through and hard
dollar PIPE financings) on competitive, effective and
service-friendly terms, and offers investment banking, mergers and
acquisitions, and mining industry consulting, services to resource
companies. MineralFields and Pathway have financed several hundred
mining and oil and gas exploration companies to date through First
Canadian Securities ®, and have raised over $1 billion in their 10
year history.
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)info@sonaresources.comwww.sonaresources.com Marston
Webb International Victor Webb/Madlene Olson Media Inquiries +1
(212) 684-6601 +1 (212) 725-4709 (FAX)marwebint@cs.com
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