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| Home : Solara Exploration Announces Private Placement of Flow-Through Shares |
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Jul 27
2011 |
Solara Exploration Announces Private Placement of Flow-Through Shares |
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CALGARY, ALBERTA--(Marketwire - July 27, 2011) - Solara Exploration Ltd. (TSX VENTURE:SAA.A) ("Solara" or the "Company") announces that it is proceeding with a non-brokered private placement of up to $1,200,000 of Units (the "Private Placement"). Each Unit is priced at $0.40 and is comprised of one (1) Class A Flow Through Common Share ("Flow Through Share") of the Company and one-half (1/2) of a Flow- Through Class A Common Share Purchase Warrant. Each whole Warrant plus $0.50 is exercisable into one (1) Class A Common Share until December 31, 2011. The Units are being sold to partially fund the Company's active drilling program on the Buck Lake (Pembina) Cardium horizontal oil project in west central Alberta and on the Sylvan Lake Leduc D3 oil reef play in central Alberta. |
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| Source:http://www.marketwire.com/mw/release.do?id=1542847&sourceType=3 |
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