TSXV:HRM - Post Discussion
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Bpultra on May 16, 2012 5:29pm
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| Company News Alert for Hudson River Minerals |
| | Hudson River Closes Financing, Completes Drill Program at Forge Lake and Provides Corporate Update | |
| | Toronto, Ontario--(Newsfile Corp. - May 16, 2012) - Hudson River Minerals Ltd. (“Hudson River” or the “Company”) (TSX-V:HRM) is pleased to announce the closing of a brokered private placement (the “Offering”) with Macquarie Private Wealth Inc. (the “Agent”) that was previously announced on February 27th 2012. The Company sold a total of 450,000 common shares on a flow-through basis (the “FT Shares”) at a price of
.08 per FT Share and 3,005,686 non-flow-through units (the “NFT Units”) at a price of
.065 per NFT Unit for total gross proceeds of $231,370. Each NFT Unit was comprised of one non-flow-through common share (a “NFT Share”) and one non-flow-through common share purchase warrant (a “Warrant”), where each Warrant is exercisable into one common share of the Company (a “Warrant Share”) at a price of
.15 per Warrant Share at any time prior to 5:00 pm on November 15, 2013. An Agent’s commission in the amount of $14,320.87 was paid to the Agent with respect to the sale by the Company of FT Share and NFT Unit subscriptions placed by the Agent. The Company also issued 215,648 broker warrants (the “Agent Warrants”) to the Agent with respect to the sale by the Company of FT Shares and NFT Units that were placed by the Agent. Each Agent’s Warrant is exercisable into one common share (an “Agent’s Warrant Share”) a price of
.15 per Agent’s Warrant Share at any time prior to 5:00 pm on November 15, 2013. Completion of the Offering is subject to final regulatory approval. The proceeds from this financing will be used to advance Hudson River’s exploration projects in Ontario, primarily the Forge Lake project, and for general corporate expenses. Forge Lake Drilling Completed |
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