Solid Resources announces private placement
May 22, 2007
EDMONTON, May 22 /CNW/ - Solid Resources Ltd. ("Solid") has accepted
subscription agreements for a flow through common share private placement of
1,292,714 units at a price of $.35 per unit for aggregate gross proceeds of
$452,450. Each unit will contain one common share of Solid and one-half of one
warrant. Each warrant will entitle the holder thereof to acquire an additional
one half of one common share of Solid for a period of one year at an exercise
price of $.50. Proceeds will be utilized for Canadian Exploration on the
Sunrise Lake Silver, Zinc and Gold deposit in the N.W.T. The securities are
subject to resale restrictions which do not expire for four months from the
date of issue. This transaction is subject to the approval of the regulatory
authorities.
The Company's website is at www.solidresources.com and the common stock
trades on the TSX Venture Exchange under the symbol SRW and on the Frankfurt
Stock Exchange under the symbol A0BLQQ.
-------------------------------------------------------------------------
Certain statements contained in this press release, including statements
which are related to exploration activity and future prospects and
profitability and which may contain words such as "could", "should", "expect",
"believe", "will" and similar expressions and statements relating to matters
that are not historical facts are forward-looking statements. Such
forward-looking statements involve known and unknown risks and uncertainties
which may cause the actual results, performances and/or achievements of Solid
to be materially different from any future results, performances or
achievements expressed or implied by such forward-looking statements. Such
factors include fluctuations in the market conditions and prices of tantalum,
lithium, tin, silver and other metals and related products and services;
competition; political and economic conditions in countries in which Solid
does business; changes in laws and regulations, including environmental
regulations, to which Solid is subject, and other factors which are described
in further detail in Solid's filings with the Canadian Securities Regulators.
The TSX Venture Exchange has not reviewed this release and does not
accept responsibility for the adequacy or the accuracy of this release.
For further information: Garnet Harter, Interim President, (780) 416-7525, This e-mail address is being protected from spambots. You need JavaScript enabled to view it ; Harry McKinders, Director of Investor Relations, (780) 940-1030, This e-mail address is being protected from spambots. You need JavaScript enabled to view it