Sokoman Iron announces $800K private placement

Sokoman Iron Corp



News Release

SOKOMAN IRON CORP ANNOUNCES $800,000 PRIVATE PLACEMENT FINANCING

November 27, 2017, Puslinch, ON. – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) is pleased to announce a non-brokered private placement financing (“Financing”) consisting of up to 3,333,333 flow-through units (“FT Units”), each FT Unit being issued at $0.06 and consisting of one (1) Flow-through Common Share and one half (1/2) of a Common Share Purchase Warrant (“FT Warrant”), each full FT Warrant being exercisable at $0.09 for 24 months, and up to 12,000,000 non flow-though units (“Units”), each Unit being issued at $0.05 and consisting of a Common Share and a Common Share Purchase Warrant (“Warrant”), each Warrant being exercisable at $0.07 for 36 months, for total gross proceeds of $800,000.
The Common Shares comprising the FT Units and the Common Shares issuable upon exercise of the Common Share Purchase Warrants will be subject to a four (4) month hold period commencing on the Closing Date, being the date of issuance of the Units.

Proceeds from the Financing will be used to advance the Moosehead Gold Property (see the Company’s news release November 9, 2017) and for general working capital purposes.

The proposed financing and associated terms are subject to TSX Venture Exchange approval.

On behalf of the Board of Directors of Sokoman Iron Corp.
“Timothy Froude”
Timothy Froude, CEO

For further information please contact Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com