sonaresources.com
Sona Resources Corp. is a junior resource company based in Vancouver, British Columbia, specializing in gold exploration, development and mining in North America. The Sona board of directors and management have decades of combined experience in the mineral exploration and mining industry, and in managing and financing junior exploration companies.
Since its inception in 1990, Sona has engaged in exploration activities at its 100 percent owned mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the Blackdome Gold Mine, in south-central B.C. Since 2002 at its Elizabeth Gold Property, 220 kilometres north of Vancouver, Sona has completed four diamond drill programs that have outlined a 206,000-ounce inferred gold resource.
Sona Resources to raise $1.5m through private placement
Sona Resources (TSX-V:SYS)(FSX:QS7) said Thursday it will raise up to $1.5 million through a non-brokered private placement financing.
The company has agreed to issue up to roughly 1.4 million units at a price of $1.10 per unit.
Each unit will consist of one common share and one-half of one common share purchase warrant, with each warrant entitling the holder to acquire an additional common share at a price of $1.50 per share for two years from closing.
In addition, the company said that certain finders may receive warrants equal to 8% of the number of units purchased by subscribers introduced to Sona.
The proceeds of the offering, which is subject to regulatory approval, will be used for working capital purposes.
Sona has properties in both the US and Canada, and is a small-scale gold producer from its flagship Blackdome Gold Mine in south-central British Columbia.
The company aims to bring its fully permitted Blackdome mill back into production over the next three years at a rate of 200 tonnes per day, with feed from the Blackdome Gold Mine and the Elizabeth Gold Deposit property.
