| Sidon International Resources Corp. Closes Private Placement |
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SIDON INTERNATIONAL RESOURCES CORP. (TSX VENTURE:SD)(FRANKFURT:SY7)(OTCBB:SIDNF) Sidon International Resources Corp. has closed the first tranche of private placement of 10.6 million units, at a price of 2.5 cents per unit, for gross proceeds of $265,000. Each unit consists of one common share and one non-transferable share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional common share of the company at a price of five cents for a one-year period, 10 cents in the second, third, fourth and fifth years expiring Aug. 26, 2014. The shares issued pursuant to the private placement are subject to a hold period expiring on Dec. 27, 2009. There is a finder's fee payable of $5,625 in connection with this private placement. Kamal Alawas, president of Sidon stated, "Now that we have closed this placement management can focus on the corporate development of the company." Sidon International Resources is a junior exploration company with interests in Saskatchewan -- Coal properties, Alberta - Potash claims, Nevada -- North Dolly Varden copper gold claims, Northwest Territories -- Slave Craton diamond properties, and in British Columbia -- Harrison Lake West gold silver claims. |
