July 20, 2005
CONVERTIBLE DEBENTURES OFFERING
Softrock Minerals (TSX-V: SFT) ("Softrock") announced today that, subject to regulatory approval, it will proceed with a treasury offering of convertible debentures in the aggregate principal amount of up to $100,000. The debentures will mature two years from the date of issue and bear interest at a rate of 5% per annum, payable quarterly. At the holder’s option, and at any time between the date of issue and two years thereafter, the debentures will be convertible into units of Softrock at a conversion price of $0.09 per unit. Each unit will consist of one common share of Softrock and one-half of one common share purchase warrant, which shall entitle the holder thereof to purchase an additional common share at a price of $0.13 at any time prior to two years from the closing date. Softrock may also retire all or any part of the debt represented by the debentures prior to the maturity date by providing 30 days notice and paying a 5% penalty on the amount retired.
Net proceeds of the offering will be used to satisfy Softrock's financial obligations in respect of its ongoing heavy oil development program with Silver Strand Energy Corporation.
On behalf of the Board of Directors
The Honourable Nick Taylor, President and Director
For further information please contact:
Softrock Minerals Ltd.
#1010, 825 – 8th Avenue SW
Calgary, Alberta T2P 2T3
Ph:(403) 266-2605 or Fax:(403) 266-2730
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.