Soldera Mining Closes $4 Million Private Placement

Rhea-AI Summary

Soldera Mining Corp. has successfully closed a private placement, raising $3,999,640 through the issuance of 9,522,952 Units at $0.42 per Unit. Each Unit consists of one common share and one warrant, exercisable at $0.60 for 36 months. Proceeds will be allocated to acquisitions, marketing, and working capital. Finder's fees amounted to $133,664 with additional finder’s warrants issued. All securities are subject to a statutory hold until July 13, 2021. The company focuses on mineral exploration in Canada and the United States.

Positive

• Raised gross proceeds of $3,999,640 through the private placement.
• Plans to utilize proceeds for acquisitions and working capital.
• Each warrant provides potential future capital at $0.60.

Negative

• Finder's fees of $133,664 may impact overall financial health.
• Warrants issued could lead to dilution if exercised.

Not for Dissemination in the United States or for Distribution to U.S. Newswire Services

VANCOUVER, BC / ACCESSWIRE / March 12, 2021 / Soldera Mining Corp. (CSE:SOLD)(OTCQB:SLDMF) ("Soldera" or the "Company") is pleased to announce that it has closed its previously announced private placement (the "Private Placement") of units (each, a "Unit") for gross proceeds of $3,999,640 through the issuance of 9,522,952 Units at a price of $0.42 per Unit.

Each Unit consists of one common share and one common share purchase warrant, each warrant being exercisable at a price of $0.60 for thirty-six (36) months from issuance. The Company intends to use the proceeds of the Private Placement for acquisitions, marketing expenditures and working capital.

Finder's fees of $133,664 were paid and 318,248 finder's warrants were issued in connection with the Private Placement. Each finder's warrant is exercisable at $0.42 for a period of two (2) years from the date of issuance. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring July 13, 2021, in accordance with applicable securities laws.

The securities issued under the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Company

The company is a mineral exploration company focused on the acquisition, exploration and development of mining properties. The company is based in Vancouver, BC and holds an option over the Titan Property located in the Klotz Lake area in Northwestern Ontario and the Tuscarora Property, located in the Tuscarora Mining District in Elko County, Nevada.

For more information, investors should review the Company's filings that are available at www.sedar.com.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the intended use of proceeds from the Private Placement, are forward-looking statements. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the contents of this press release.

Contact Information

Faizaan Lalani
Director and Chief Financial Officer
Telephone: 778 233 3537
Email: flalani@solderamining.com

SOURCE: Soldera Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/635298/Soldera-Mining-Closes-4-Million-Private-Placement

FAQ

What was the amount raised in Soldera Mining's private placement?

Soldera Mining raised $3,999,640 in its private placement.

What is the exercise price of the warrants issued by Soldera Mining?

The warrants issued are exercisable at a price of $0.60.

When does the statutory hold period for Soldera Mining's securities expire?

The statutory hold period expires on July 13, 2021.

What will Soldera Mining do with the proceeds from the private placement?

The proceeds will be used for acquisitions, marketing expenditures, and working capital.

What are the key properties of Soldera Mining?

Soldera Mining holds options over the Titan Property in Ontario and the Tuscarora Property in Nevada.