VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) announces that it has closed the second and final tranche of a non-brokered private placement. The Company issued 885,000 flow through units at a price of $0.06 per unit for total proceeds of $53,100. The Company had previously announced on July 19th 2012 that it had closed the first tranche consisting of 4,932,667 flow through units at a price of $0.06 per unit for total proceeds of $295,960.02.
Each unit consists of one common share and one-half of one non-transferable share purchase warrant. One whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for two years from the date of closing.
Finders' fees: EMD Financial Inc. received $450 and 7,500 Broker Warrants. The Broker Warrants are exercisable into units at a price of $0.06 per unit for two years from the date of closing. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle EMD Financial Inc. to purchase an additional common share of the Company at a price of $0.10 per share for a period of two years from the date of closing. Fin-Xo Securities Inc. received $4,860.
Shares, warrants and any shares issued upon exercise of the warrants for the second tranche are subject to a hold period of four months expiring February 17, 2013. The proceeds of the private placement will be used for exploration activities.
You can now find Soldi Ventures Inc. on Twitter at http://twitter.com/soldiventures.
Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior exploration company focused on discovering gold and graphite deposits in politically safe jurisdictions.
On behalf of the board of SOLDI VENTURES INC.
Charles Desjardins, President
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
"Neither the 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."