Source Exploration Corp. Closes Non-Brokered Private Placement
20 February 2014 - 8:53AM
Marketwired
Source Exploration Corp. Closes Non-Brokered Private Placement
THUNDER BAY, ONTARIO--(Marketwired - Feb 19, 2014) - Source
Exploration Corp. ("Source" or the "Company") (TSX-VENTURE:SOP) is
pleased to announce that it has closed its non-brokered private
placement previously announced on January 22, 2014 (the "Private
Placement"), pursuant to which David Baker, the Executive Chairman
of the Company, has subscribed for 1,100,000 units ("Units") at a
price of $0.075 per Unit for gross proceeds of $82,500.
Each Unit consisted of one common share and one transferrable
common share purchase warrant (each whole warrant, a "Warrant").
Each Warrant entitles the holder thereof to purchase one common
share of the Company for a period of 24 months from the closing
date of the Private Placement at a price of $0.125 per common
share.
The proceeds from the Private Placement will be used to continue
exploration on the Company's Las Minas project located in the State
of Veracruz, Mexico, and for general working capital purposes.
Securities issued under the Private Placement are subject to a
four month hold period which will expire four months and one day
from the date of closing of the Private Placement. The Private
Placement is subject to final acceptance by the TSX Venture
Exchange and other customary conditions for a transaction of this
nature.
About Source Exploration Corp.
Source is a Canadian based mineral exploration company committed
to building long-term value through the discovery, acquisition and
advancement of mineral properties. The Company holds an option on
the Las Minas gold, silver and copper exploration project located
within the Las Minas mining district in the State of Veracruz,
Mexico. The district hosts one of the largest underexplored gold -
silver - copper skarn systems known in Mexico and has a strong
production history that dates back to the Aztec era.
ON BEHALF OF THE BOARD OF DIRECTORS
David Baker, Executive Chairman
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain
information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements about the
future exploration results relating to the Las Minas project,
exploration plans for the Las Minas project and the exploration
potential of the Las Minas project. Forward-looking information is
necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking information, including the risks
identified in the Company's disclosure documents. There can be no
assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. All
forward-looking information contained in this press release is
given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as
at the date hereof. The Company disclaims any intention or
obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Source Exploration Corp.David BakerExecutive
Chairman604-817-4211807-474-4272info@sourceexploration.comwww.sourceexploration.com
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