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CALGARY, ALBERTA--(Marketwire - Dec. 5, 2011) - Solara Exploration Ltd. (TSX VENTURE:SAA.A) ("Solara" or the "Company") is pleased to announce that it has completed the final closing of its private placement announced November 15, 2011 (the "Private Placement"). The Private Placement resulted in the Company raising aggregate proceeds of $408,000. The Company previously announced the initial closing of the Private Placement for proceeds of $396,000. In aggregate, 1,360,000 Flow-Through Class A Shares were issued. All securities issued pursuant to the Private Placement are subject to a four (4) month hold in accordance with the applicable securities regulations. The proceeds of the financing will be used to fund the Company's active drilling program in the Buck lake (Pembina) Cardium horizontal oil project in west central Alberta. |
