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 closes second tranche of $500,000 convertible debenture placing
Soho Resources (TSX-V:SOH) has closed the second and final tranche of the C$500,000 non-brokered private placement of convertible debt that it announced in July, it said Thursday.
The second tranche of the financing included the sale a C$300,000 prinicipal amount of convertible debenture units at a price of C$1,000 per unit.
Each unit included a $1,000 amount of convertible debentures and 20,000 transferable share purchase warrants, whereby each warrant can be exercised for a period of two years for one common share of the company at a price of $0.10 per share.
The convertible debt is unsecured, non interest-bearing and can be converted into common shares of the company at a price of $0.05 per share.
The conversion is conditional upon the company completing a consolidation of its share capital on not less than a two for one basis, it said.
In addition, holders of the units have received a 20% bonus in the principal amount of convertible debentures, at an issued price of C$0.05 per share.
Soho 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.
Its property portfolio comprises the advanced Tahuehueto project in Durango State and Jocuixtita in Sinaloa State, with the former at an advanced stage.
