September 30, 2005
COMPLETES CONVERTIBLE DEBENTURES OFFERING
Softrock Minerals Ltd. (TSX-V: SFT) announces that it has completed its previously announced non-brokered private placement of convertible debentures for aggregate gross proceeds in the amount of $77,000. The debentures will mature on September 30, 2007, bear interest at a rate of 5% per annum, payable quarterly, and are convertible at the holder's option into units of Softrock at a 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 entitling the holder thereof to purchase an additional share at a price of $0.13 at anytime prior to September 30, 2007.
Softrock may retire all or any part of the debt represented by the debentures prior to maturity by providing 30 days notice and paying a 5% penalty on the amount retired.
The debentures and any securities issued upon conversion thereof are subject to a "hold" period that expires 4 months and a day from the date of closing of the offering.
Proceeds of the offering will be used to satisfy Softrock's financial obligations in respect of its ongoing heavy oil development program in Western Saskatchewan.
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.