January 13, 2016 – Vancouver, British Columbia – SOUTHERN SUN MINERALS INC. (the “Company”) (SSI-V: TSX), is pleased to report that it has closed the non-brokered Private Placement announced on January 6,
2016 with the issuance of 18,000,000 Units to 28 investors for gross proceeds of $900,000. A finder’s fee of 1,800,000 Units was paid in respect to this financing. The 19,800,000 common shares issued pursuant to this financing are subject to a four month hold period expiring May 14, 2016.
Each Unit consists of one common share in the capital of the Company (“Common Share”) and one non-transferable share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at a price of $0.10 on or before January 13, 2018.
Proceeds from the Private Placement will be used for property exploration, project development, the review of new projects and for general working capital.
On Behalf of the Board of Directors
Harry Barr Chairman & CEO
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.
Cautionary Note Regarding Forward Looking Statements Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.