04:05 PM EST - Soltoro Ltd. : said that it has closed its brokered private placement with Canaccord Capital Corporation in two tranches, with a portion completed on a non brokered basis directly into Soltoro Ltd. Directors of Soltoro authorized a $100,000 increase beyond the original $1,250,000 contemplated placement, as the issue was oversubscribed. In total, Soltoro issued 6.75 million Units at $0.20 per Unit, for aggregate gross proceeds of $1.35 million. Each Unit consists of one common share and one half of one share purchase warrant, with each whole warrant exercisable for a period of 18 months into one additional common share at a price of $0.30 per share. The brokered portion of the private placement with Canaccord consisted of 4.84 million Units, while the non-brokered portion of the private placement consisted of 1.92 million Units. Canaccord received a total commission of $43,970 cash, 166,950 common shares of Soltoro Ltd. and 483,500 agent's warrants exercisable at $0.30 for one common share for 18 months. Soltoro also paid Canaccord a corporate finance fee through the issuance of an additional 96,700 Units, and covered expenses relating to the offering. Soltoro Ltd.
shares V.SOL are trading even at $0.25.
