Sokoman Iron Corp. Announces Financing
Puslinch, Ontario (FSCwire) - Sokoman Iron Corp.("the Company") is pleased to
announce a private placement of up to 5,000,000 million Units of common shares and warrants for gross proceeds of $100,000.
Each Unit consists of one common share at $0.02 per common share and one full warrant to acquire one additional common share of
the Company at $0.05 per share for a period of five years from the date of closing.
The terms of the private placement are according to the TSX Venture Exchange discretionary waivers of five-cent
minimum pricing requirement bulletin dated April 7, 2014, and are subject to exchange approval.
The proceeds from the private placement will be used as follows:
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CORPORATE ADMINISTRATIVE EXPENSES
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Professional Fees (Audit, Legal)
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$30,000
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Executive compensation (1)
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10,000
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Shareholder expense (AGM/Stock Transfer/Filing fees)
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7,500
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Share issue costs (TSX-V/OSC Fees)
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2,500
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$50,000
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PROJECT EXPENDITURES
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Exploration expenses - drilling, assays, field expenses
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$50,000
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$50,000
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Gross Proceeds
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$100,000
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(1) $10,000 proposed payable to related party
This news release has been reviewed and approved by Timothy Froude, P. Geo., a "Qualified Person" under National
Instrument 43-101 and Interim CEO for Sokoman Iron Corp. For further information please contact Timothy Froude at 709-765-1726 or
by email at tfroude@sokomaniron.com
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.
Investors are cautioned that trading in the securities of the Corporation should be considered highly
speculative. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for
historical information contained herein, this news release contains forward-looking statements that involve risks and
uncertainties. Actual results may differ materially. Sokoman Iron Corp. will not update these forward-looking
statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that
could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory
authorities by Sokoman Iron Corp.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Sokoman06162016.pdf
Source: Sokoman Iron Corp. (TSX Venture:SIC)
http://www.sokomaniron.com/
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