TOP SMALL CAP NEWS - HINTERLAND METALS - HMIHinterland arranges $1 Million Financing
Mon Mar 26, 4:01 PM
Shares Issued 37,257,201
VAL d'OR, QC, March 26 /CNW/ - Hinterland Metals Inc. (TSXV: HMI.V) has arranged a non-brokered private placement for gross proceeds of up to $1,000,000 through the sale of 5,000,000 units (the "Units") at a price of $0.20 per Unit. Each Unit will consist of one common share of Hinterland and one share purchase warrant (the "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of Hinterland at a price of $0.30 per share if exercised on or before 12 months from closing and for an additional 12 months thereafter at a price of $0.40 per share.
The Units are being offered pursuant to exemptions from the prospectus and registration requirements of applicable securities laws, subject to the receipt of necessary regulatory approvals. No offering memorandum or other offering document will be furnished to subscribers of the Units. The closing is expected to occur before March 30, 2007. All securities issued pursuant to the private placement shall be subject to a hold period of four months and one day from closing.
An agent's commission will be paid in cash equal to 8% and in non-transferable warrants ("Agent's Warrants") equal to 10% of the gross proceeds received by Hinterland from the sale of Units by eligible agents. Each Agent's Warrant will entitle the holder thereof to acquire one common share of Hinterland $0.30 per share on or before 12 months from closing. The proceeds from this private placement will be used by Hinterland to advance its exploration projects in Canada and for general working capital.
Investors are invited to visit the Hinterland IR Hub at www.agoracom.com/IR/Hinterland where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to HMI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This release contains forward-looking statements reflecting the Company's objectives, estimates and expectations for its projects. These statements are identified by the use of verbs such as "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology. By their very nature, these types of statements involve risk and uncertainty. Consequently, results could differ materially from the Company's projections or expectations.
Contacts
Mark Fekete
President at Toll Free 1-877-874-8182
E-mail: info@hinterlandmetals.com
Website: www.hinterlandmetals.com