Source Exploration Corp. Announces Share Swap Arrangement
22 Janeiro 2014 - 9:15PM
Marketwired
Source Exploration Corp. Announces Share Swap Arrangement
THUNDER BAY, ONTARIO--(Marketwired - Jan 22, 2014) - Source
Exploration Corp. ("Source" or the "Company") (TSX-VENTURE:SOP)
reports that David Baker, the Executive Chairman of the Company,
has arranged a sale of 1,100,000 common shares of the Company
("Common Shares") at a price of $0.075 per Common Share to a third
party through the facilities of the TSX Venture Exchange.
The proceeds from this sale will be used by Mr. Baker to
subscribe 1,100,000 units of the Company ("Units") at a price of
$0.075 per Unit on a private placement basis. Each Unit includes
one Common Share and one transferrable Common Share purchase
warrant ("Warrant"). Each Warrant entitles the holder thereof to
purchase one Common Share of the Company for a period of 24 months
at a price of $0.125 per Common Share.
The proceeds from the private placement will be used to continue
exploration on the Company's Las Minas project located in the State
of Veracruz, Mexico, and for general working capital purposes.
The private placement is subject to approval by the TSX Venture
Exchange and other customary conditions for a transaction of this
nature. The securities issued under the private placement will be
subject to a four month hold period pursuant to applicable Canadian
securities laws.
About Source Exploration Corp.
Source is a Canadian based mineral exploration company committed
to building long-term value through the discovery, acquisition and
advancement of mineral properties. The Company holds an option on
the Las Minas gold, silver and copper exploration project located
within the Las Minas mining district in the State of Veracruz,
Mexico. The district hosts one of the largest underexplored gold -
silver - copper skarn systems known in Mexico and has a strong
production history that dates back to the Aztec era.
ON BEHALF OF THE BOARD OF DIRECTORS
David Baker, Executive Chairman
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain
information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements about the
completion of the private placement, future exploration results
relating to the Las Minas project, exploration plans for the Las
Minas project and the exploration potential of the Las Minas
project. Forward-looking information is necessarily based upon a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking information, including the risks identified in the
Company's disclosure documents. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
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.
Source Exploration Corp.David BakerExecutive
Chairman604-817-4211807-474-4272info@sourceexploration.comwww.sourceexploration.com
Source Exploration Corp. (TSXV:SOP)
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