VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
HUDSON RESOURCES INC. (the "Company") (TSX VENTURE:HUD)(OTCQX:HUDRF) is pleased to announce that it has
closed the second and final tranche of its previously announced offering by way of a private placement for 5,618,801 units
("Units") of the Company, at a price of $0.35 per Unit, for total proceeds of $1,966,580. Each Unit is comprised of one fully
paid and non-assessable common share (a "Share") in the capital of the Company and one-half of a transferable share purchase
warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional Share (a "Warrant Share")
in the capital of the Company until February 16, 2020, at an exercise price of $0.50 per Warrant Share. The Company paid $113,291
in finders' fees in connection with this private placement.
Both the Shares issued as part of the Units and any Shares issued upon exercise of the Warrants are subject to a hold period,
which expires on June 17, 2017 and, such common shares may not be traded until June 17, 2017, except as permitted by the
Securities Act (British Columbia) and the Rules made thereunder and the TSX Venture Exchange.
Total net proceeds of $10,853,478, after accounting for finders' fees, from the two tranches will be used to fund the equity
portion of the project financing package being arranged by the Company for its' White Mountain Anorthosite Project and for
general corporate purposes.
On completion of this offering, Hudson's issued and outstanding securities will be comprised of 126,604,873 common shares,
9,410,000 options and 22,559,053 warrants.
John Hick (60,000 Units) and Flemming Knudsen (10,000 Units), directors of the Company, purchased at total of 70,000 Units for
aggregate proceeds of $24,500. As a result, their participation is considered a "related party transaction" under Policy 5.9 of
the TSX Venture Exchange (the "TSX VENTURE"), which adopts Multilateral Instrument 61-101 ("MI 61-101"). The directors of the
Company have determined that their participation in the private placement is exempt from the formal valuation and minority
shareholder approval requirements under MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and (b) and 5.7(a)
of MI 61-101 and, in connection therewith, have determined that neither the fair market value of the securities to be distributed
in the private placement nor the consideration to be received, insofar as it relates to the them, exceeds 25% of the Company's
market capitalization. The Company did not file a material change report related to this financing more than 21 days before the
expected closing of the private placement as required by MI 61-101 since the details of the participation by the related parties
of the Company were not settled until shortly prior to the closing of the private placement and the Company wished to close on an
expedited basis for sound business reasons.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of
the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and
will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state of
the United States and may not be offered or sold in the United States absent such registration or an applicable exemption from
such registration requirements.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of
historical fact included in this news release, including, without limitation, statements regarding the use of proceeds from the
private placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations include market prices, general economic, market or business
conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to
time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities legislation.
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.