Soho Retains Merriman Capital to Pursue Listing on the OTCQX
19 April 2011 - 4:52PM
Marketwired
Soho Resources Corp (TSX VENTURE: SOH) ("Soho" or the "Company") is
pleased to announce that the Company has retained financial
services firm Merriman Capital, Inc. to pursue a listing on the
OTCQX. Soho currently trades on the TSX Venture Exchange under the
ticker symbol SOH and a dual listing on the OTCQX would broaden the
market to include investors in the United States.
The OTCQX is a premium market tier known within the industry for
maintaining rigid listing standards for growth oriented companies
that trade on its exchange. Pending approval, Soho's listing on the
OTCQX is expected to be completed during the second quarter of this
year.
"With the enhanced U.S. based trading platform offered by the
OTCQX, we are pleased to be able to better serve our growing number
of U.S. investors who are following Soho Resources," said Ralph
Shearing, President and CEO of Soho.
The OTCQX has earned a strong reputation for providing U.S.
investors with improved liquidity, transparency, superior
information, and easy access through their U.S. regulated
broker-dealers, while Merriman's blend of investment banking,
equity research and financial marketing services has a proven track
record of success in elevating the profile of their client
companies. "We are looking forward to higher visibility in the
largest market in the world and look forward to working with
Merriman Capital in this regard." Merriman Capital, Inc. is a
wholly-owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR;
Member FINRA/SIPC); for further information, please visit their
website at www.merrimanco.com.
About Soho Resources Corp
Soho Resources Corp. is an exploration and development company
strategically focused on gold, silver and base metals in the
prolific Sierra Madre Belt of Mexico.
The Company has been conducting an exploration and drilling
program to expand and upgrade its resources at its flagship
Tahuehueto Project in Durango State and on October 4, 2010
announced the results of a Preliminary Economic Assessment ("PEA")
completed by Snowden Mining Industry Consultants Inc. Key findings
from the report included:
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Summary of PEA Estimates
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Net cash flow $US 184.2 million
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Net present value (NPV) 5% discount $US 109.6 million
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Internal rate of return % 31%
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Payback period (months) 27
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Mine life (years) 11
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Maximum processing rate (tonnes/annum) 1,000,000
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Capital and start-up costs $US 89.1 million
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Note: Calculations based on these 3 year rolling average metal prices as of
the end of August 2010. Currency - $US
Gold 965.81, Silver 15.38, Copper 2.92, Lead 0.95, Zinc 0.88
The Tahuehueto Project is a classic epithermal system hosting
multiple structures traced for up to six kilometers of strike
length. Considerable upside exploration potential remains on the
existing explored resource structures both down dip and along
strike, as well as on numerous other unexplored mineralized
structures.
Qualified Persons
This press release was prepared under the supervision and review
of Ralph Shearing, President and CEO of Soho Resources Corp., a
Licensed Geologist, and Qualified Person as defined by NI
43-101.
Definitions used in this release are consistent with those
adopted by the Canadian Institute of Mining, Metallurgy and
Petroleum ("CIM") Council in December 2005, as amended, and
prescribed by the Canadian Securities Administrator's National
Instrument 43-101 and Form 43-101F1, Standards of Disclosure for
Mineral Projects. Mineral resources are not mineral reserves and do
not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS
Ralph Shearing, Chief Executive Officer
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Soho Resources Corp.
relies upon litigation protection for forward-looking
statements.
Shares Issued - 185,533,676
Last Close $0.10 - April 18, 2011
"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 adequacy or
accuracy of this release."
Contacts: Soho Resources Corp. Mr. Glen Sandwell (604) 684-8071
or Toll Free: 1-800-685-0576 ir@sohoresources.ca
www.sohoresources.ca
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