07:22:37 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Softrock Minerals Ltd
Symbol SFT
Shares Issued 23,759,146
Close 2018-05-01 C$ 0.03
Market Cap C$ 712,774
Recent Sedar Documents

Softrock delays record date for rights to May 7

2018-05-01 18:32 ET - News Release

Mr. Nick Taylor reports

SOFTROCK ANNOUNCES RIGHTS OFFERING RECORD DATE

The record date for Softrock Minerals Ltd.'s previously announced offering of rights to holders of its common shares has been changed to the close of business on May 7, 2018. As previously disclosed, each right will entitle the holder to subscribe for one unit of the company upon payment of the subscription price of two cents per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable into one common share at a price of five cents per share for a period of 24 months from the issuance date of the units.

The common shares will commence trading on an ex rights basis on May 4, 2018. Any holders of common shares purchased on an ex rights basis will not be entitled to receive rights under the rights offering. As such, common shares must be purchased before the end of market trading hours on May 3, 2018, to be entitled to rights under the rights offering on the record date of May 7, 2018. The rights will expire at 4 p.m. Calgary time on June 7, 2018, after which time unexercised rights will be void and of no value.

Shareholders who fully exercise their rights will be entitled to subscribe for additional common shares, if available, as a result of unexercised rights prior to the expiry time, subject to certain limitations set out in the company's rights offering circular. The company expects to close the rights offering promptly following the expiry time. Details of the rights offering will be set out in the rights offering notice and rights offering circular, which will be available on the company's website and under the company's profile at SEDAR. The rights offering notice and accompanying rights certificate will be mailed to each registered eligible shareholder as at the rights offering record date. Registered shareholders who wish to exercise their rights must forward the completed rights certificate, together with the applicable funds, to the subscription agent, Computershare Investor Services Inc., on or before the expiry time. Shareholders who own their common shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.

There are currently 23,759,146 common shares issued and outstanding. If all of the rights issued under the rights offering are validly exercised, there will be 47,518,292 common shares and 23,759,146 warrants outstanding, and the rights offering will have raise gross proceeds of approximately $475,000. Funds raised through the rights offering will be used for working capital and general corporate purposes.

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