www.sohoresources.ca
Soho Resources is a Canadian-based junior resource company focused on exploring and developing the Tahuehueto gold-silver project in northwestern Durango State, Mexico.
The 9,081-hectare property covers at least 12 mineralized zones hosted within a structurally controlled epithermal system that has been traced for more than 6 km. Exploration programs have confirmed significant gold-silver mineralization with associated base metals at many of these zones.
Soho Resources to raise C$500,000 through placing of convertible debentures
Soho Resources (TSX-V:SOH) is set to raise C$500,000, through a non-brokered private placement of convertible debenture units. The company said that the placing is expected to close in tranches, with the first It is expected that the offering will close in tranches, with the first tranche of C$225,000 expected to close immediately after the offer receives approval from the stock exchange.
The debenture units, which are priced at C$1,000, consist of a C$1,000 convertible debenture, and 20,000 transferable common share warrants. Each warrant can be converted into one common share at a C$0.10 exercise price, for up to 2 years.
Soho noted that the convertible debentures are unsecured, non interest-bearing and are convertible into common shares of the company from the date of issue, at the option of the holder - at a C$0.05 per share conversion price. Additionally, unit-holders may receive a bonus of up to 20% of the principal amount, at an issued price of C$0.05 per share.
The company is primarily focused on the Sierra Madre Belt of Mexico, a country where it holds interests in two projects with principle commodities of gold, silver, lead, zinc, and copper located in Durango State and Sinaloa State in western Mexico.
Soho’s property portfolio comprises the advanced Tahuehueto project in Durango State and Jocuixtita in Sinaloa State, with the former at an advanced stage.
