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Strategies & Market Trends : Dino's Bar & Grill
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To: Andrew~ who wrote (4531)1/22/2014 6:37:32 PM
From: Goose94Read Replies (1) of 202859
 
SOP-V insider buying.... David Baker, the executive chairman, to subscribe for 1.1 million units of the company at a price of 7.5 cents per unit on a private placement basis

Jan 22, 2014 - NR

Source Exploration Corp. has arranged a sale of 1.1 million common shares of the company at a price of 7.5 cents per common share to a third party through the facilities of the TSX Venture Exchange.The proceeds from this sale will be used by David Baker, the executive chairman, to subscribe for 1.1 million units of the company at a price of 7.5 cents per unit on a private placement basis. Each unit includes one common share and one transferable common share purchase 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 12.5 cents 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.
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