Source Exploration Announces Non-Brokered Private Placement of Up to $1,500,000 and Debt Conversion

Source Exploration Corp. (“Source” or the “Company“) (TSX VENTURE:SOP) is pleased to announce that it has arranged a nonbrokered private placement (the “Private Placement“) of up to 10,000,000 units of the Company (the “Units“) at a price of $0.15 per Unit for gross proceeds of up to $1,500,000. Each Unit will consist of one common share of the Company (a “Common Share“) and one transferable common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant will entitle the holder to purchase one Common Share for a period of twenty-four months from the closing date of the Private Placement (subject to acceleration of the expiry date as described below) at a price of $0.25 per Common Share.

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