Hi Ho closes private placement for $370,200
Hi Ho closes private placement for $370,200
2013-05-23 16:38 ET - News Release
Mr. Dennis McKnight reports
HI HO SILVER CLOSES PRIVATE PLACEMENT
Hi Ho Silver Resources Inc. has closed a non-brokered private placement that raised gross proceeds of $370,200 through the sale of 7,404,000 units at a price of five cents per unit. Each unit is composed of one common share of Hi Ho and one common share purchase warrant. Each warrant will be exercisable to acquire one additional common share of Hi Ho at any time for a two-year period following issuance, at an exercise price of 10 cents per common share.
The proceeds of the private placement will be used for exploration of Hi Ho's Canadian mineral properties and for general working capital. All securities issued in the private placement will be subject to a four-month hold to Sept. 23, 2013, pursuant to applicable securities laws.