| Solomon Raises $325,000 in 'Flow-through' Placement with MineralFields Group |
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Armstrong, B.C. - Friday, September 25th, 2009. Solomon Resources Limited (SRB: TSX-V) has completed its private placement of 1,547,617 units at $0.21 per unit to the MineralFields Group for proceeds of $325,000. Each unit consisted of one flow-through common share and one transferable share purchase warrant. Each warrant is exercisable to purchase a further (non-flow-through) common share for two years at $0.30 in the first year and $0.40 in the second year. A 5% finder's fee was paid in cash and a finder's warrant to purchase up to 154,762 units at a price of $0.21 per unit for a period of two years was issued to Limited Market Dealer Inc. of Toronto, Ontario in consideration of its efforts in respect of the placement. The shares, and any shares issued on the exercise of the warrants, will be subject to resale restrictions until January 24, 2010. For additional information visit Solomon's website at www.solomonresources.ca or contact: Randall S. Rogers, President and Chief Executive Officer Phone: 250-546-4772
Tollfree: 1-866-831-6666
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accept responsibility for the adequacy or accuracy of this release.
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