Soho amends financing, now conditional on rollback
2010-07-26 14:56 ET - News Release
Mr. Glen Sandwell reports
SOHO RESOURCES CORP. REVISES CONVERTIBLE DEBENTURE UNIT PRIVATE PLACEMENT
Soho Resources Corp. has changed the terms of the transaction previouslyannounced in the Stockwatch press release issued on July 14, 2010, as aresult of comments received from the TSX Venture Exchange.
The company has arranged a non-brokered private placement of up toprincipal amount $500,000 convertible debenture units of the company at aprice of $1,000 per unit, each unit consisting of a $1,000 principal amountof convertible debentures and 20,000 transferable common share purchasewarrants. Each warrant is exercisable into one common share in the capital ofthe company for a period of two years from the date of issue, at an exerciseprice of 10 cents per warrant share. It is expected that the offering willclose in tranches, with the first tranche of $225,000 scheduled to closeimmediately upon the receipt of TSX Venture Exchange conditional acceptanceto the terms of the offering.