Solid Resources Ltd. (TSXV:SRW) announced a non-brokered private placement of 4,166,666 units at CAD 0.06 per unit for gross proceeds of CAD 250,000 on January 15, 2013. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.15 per share for a period of 24 months from the date of closing. The securities issued will be subject to a four month hold period.

On January 18, 2013, Solid Resources Ltd. closed the transaction. The warrants are subject to earlier termination in the event that the closing price of the common shares on the TSX Venture Exchange exceeds CAD 0.25 for 20 consecutive trading days, then upon the company sending holders written notice of such date and issuing a news release announcing such date, the warrant will only be exercisable for a period of 30 days following the date on which such written notice is sent to the holders. Greg Pendura, Chief Executive Officer, President, and Director of the company purchased 833,333 units for gross proceeds of CAD 50,000. The transaction involved 12 placees. The securities issued are subject to a four month hold period that expires on May 22, 2013. The company did not pay any finder's fee.