Sokoman Iron Corp Announces $800,000 Private Placement Financing
SOKOMAN IRON CORP ANNOUNCES $800,000 PRIVATE PLACEMENT FINANCING
November 27, 2017, Puslinch, ON. – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) is pleased to announce a non-brokered private placement financing (“Financing”) consisting of up to 3,333,333 flow-through units (“FT Units”), each FT Unit being issued at $0.06 and consisting of one (1) Flow-through Common Share and one half (1/2) of a Common Share Purchase Warrant (“FT Warrant”), each full FT Warrant being exercisable at $0.09 for 24 months, and up to 12,000,000 non flow-though units (“Units”), each Unit being issued at $0.05 and consisting of a Common Share and a Common Share Purchase Warrant (“Warrant”), each Warrant being exercisable at $0.07 for 36 months, for total gross proceeds of $800,000.
The Common Shares comprising the FT Units and the Common Shares issuable upon exercise of the Common Share Purchase Warrants will be subject to a four (4) month hold period commencing on the Closing Date, being the date of issuance of the Units.
Proceeds from the Financing will be used to advance the Moosehead Gold Property (see the Company’s news release November 9, 2017) and for general working capital purposes.
The proposed financing and associated terms are subject to TSX Venture Exchange approval.
On behalf of the Board of Directors of Sokoman Iron Corp.
“Timothy Froude”
Timothy Froude, CEO
For further information please contact Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Iron Corp.
