Sojourn Announces Closing of First Tranche of Non-Brokered Private Placement
SOJOURN VENTURES INC.
Suite 760 - 777 Hornby Street Vancouver, British Columbia V6Z 1S4
SOJOURN ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
October 15, 2013
TSX Venture Exchange Trading Symbol: SOJ.V
Sojourn Ventures Inc. ("Sojourn") announces that it has closed the first tranche (the "First Tranche") of its non-brokered private placement (the "Private Placement") that was previously announced on September 5, 2013.
Sojourn closed the First Tranche of a total of 2,500,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share (each a "Share") and one common share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to one Share at an exercise price of $0.15 for a period of three years from the date of distribution.
All securities issued under the First Tranche of the Private Placement are subject to a hold period under securities law of four months and one day from the date of the closing, being February 16, 2014.
A cash finder's fee of 7% was paid by Sojourn in connection with one (1) placee in the First Tranche.
Sojourn expects to close the final tranche of the Private Placement within the next two weeks.
About Sojourn
Sojourn is a mining exploration company listed on the TSX-V. Sojourn is currently undertaking an exploration program on its Tahsis property situated 105 kilometres Northwest of Campbell River on Vancouver Island. The Company also continues to review additional resource projects for potential future acquisitions.
On behalf of the Board of Directors,
"Joel Dumaresq"
Joel Dumaresq President, Chief Executive Officer and Director
For further information please contact:
Joel Dumaresq Telephone: (604) 648-3506
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Fax: (604) 602-9699 Email: [email protected]
This press release contains forward-looking statements within the meaning of Canadian securities laws about Sojourn and its business including, but not limited to, the intended terms of the Private Placement, closing of the Private Placement, payment of a finder's fee and use of proceeds. Such forward-looking statements reflect Sojourn's current views with respect to future events and conditions and are subject to certain risks, uncertainties and assumptions, including, but not limited to, risks related to delays in closing, the receipt of regulatory approvals and changes in market conditions. Although Sojourn believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to complete the Private Placement. The forward-looking statements contained in this news release are made as of the date hereof, and Sojourn undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
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 accuracy or adequacy of this release.