Solara Completes Private Placement

摘要

Solara Exploration Ltd. has completed its previously announced non-brokered private placement of five million units. The company also advises that the private placement was oversubscribed and as a result, the company exercised its over allotment option for 100,000 additional units and received aggregate proceeds of $510,000 in the private placement. Each unit was priced at 10 cents and comprised of two flow-through class A shares priced at five cents per share and one purchase warrant to acquire one flow-through class A share of the company. Each full warrant will be exercisable for one flow-through class A share of the company at a price of 10 cents per share until March 31, 2010.