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Solara Exploration Raises $1.2 Million for Buck Lake Drilling Program; Shares Off 6%

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Solara Exploration Ltd. (SAA-A.V) today announced that it has completed its second and final closing of the private placement and raised an aggregate $1.208 million of flow-through funds.

The company said the proceeds of the financings will be used to fund its active drilling program in the Buck lake (Pembina) Cardium horizontal oil project in west central Alberta.

SAA-A shares are now down by 6% at $0.155 from yesterday's $0.165 close. More than 28.3 thousand shares have already changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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