Hudson River Announces Non-Brokered Private Placement
28 Novembro 2011 - 10:34PM
PR Newswire (Canada)
TSX-V: HRM TORONTO, Nov. 30, 2011 /CNW/ - Hudson River Minerals
Ltd. ("Hudson River") is pleased to announce its intention to
complete a non-brokered private placement to raise aggregate gross
proceeds of up to CDN$1.0 million (the "Offering"). The Offering
will consist of up to an aggregate of 7,500,000 flow-through units
(each a "Flow-Through Unit") at a price of $0.10 (Canadian) per
Flow-Through Unit for aggregate gross proceeds of up to CDN$750,000
with each Flow-Through Unit being comprised of one common share to
be issued as a "flow-through share" as defined in the Income Tax
Act (Canada) and one-half of one non-flow-through non-transferrable
common share purchase warrant (a "Warrant"). Each whole Warrant
forming part of the Flow-Through Units will entitle the holder
thereof to purchase one common share at a price of $0.20 (Canadian)
for a period of 24 months from the closing date of the Offering
(the "Closing Date"). The Offering will also consist of up to an
aggregate of 3,571,429 hard units (the "Hard Units") at a price of
$0.07 (Canadian) per Hard Unit for aggregate gross proceeds of up
to CDN$250,000 with each Hard Unit being comprised of one common
share and one-half of one non-transferrable common share purchase
warrant. Each whole warrant forming part of the Hard Units will
entitle the holder thereof to purchase one common share at a price
of $0.15 (Canadian) for a period of 24 months from the Closing
Date. Finders used to source subscriptions will be paid a fee on
closing (a "Finder's Fee") of 7% in cash and 7% payable as
compensation options based on the aggregate number of Flow-Through
Units and Hard Units sold pursuant to the Offering as a result of
the direct efforts of the finder. Each compensation option will
entitle the holder thereof to purchase one common share at a price
of $0.15 (Canadian) for a period of 24 months from the Closing
Date. The compensation options will be non-transferable. The
proceeds will be used to advance Hudson River's exploration
projects in Ontario, primarily the Forge Lake project, and for
general corporate expenses. About Hudson River Minerals Ltd. Hudson
River is focused on the discovery of precious metals and base
metals in Ontario. The management team identifies underexplored
areas that have historical intersections of economic minerals and
has experience exploring in areas with little geologic outcrop and
that rely heavily on geophysical technologies for discovery. For
more details on Hudson River's properties go to www.sedar.com or
visit www.hudsonriverminerals.com. 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. This press release
contains forward-looking statements (including "forward-looking
information" within the meaning of applicable Canadian securities
legislation and "forward-looking statements" within the meaning of
the US Private Securities Litigation Reform Act of 1995) relating
to, among other things, the planned financing and exploration
projects of Hudson River. Hudson River has relied on a number of
assumptions and estimates in making such forward-looking
statements, including, without limitation, the prices of gold and
costs of exploration. Such assumptions and estimates are made
in light of the trends and conditions that are considered to be
relevant and reasonable based on information available and the
circumstances existing at this time. A number of risk factors
may cause the planned financing and the exploration projects to be
materially different from those expressed or implied by such
forward-looking statements including, without limitation, changes
in general economic, market and business conditions, and those
other risks set forth in Hudson River's public
filings. Forward-looking statements are not guarantees of
future performance and such information is inherently subject to
known and unknown risks, uncertainties and other factors that are
difficult to predict and may be beyond the control of Hudson
River. Although Hudson River has attempted to identify
important risks and factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors and risks
that cause actions, events or results not to be as anticipated,
estimated or intended. Consequently, undue reliance should not
be placed on such forward-looking statements. In addition, all
forward-looking statements in this press release are given as of
the date hereof. Hudson River disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
save and except as may be required by applicable securities
laws. The forward-looking statements contained herein are
expressly qualified by this disclaimer. Hudson River Minerals Ltd.
CONTACT: Hudson River Minerals Ltd. Stephen J. Balch, President and
CEO Tel: (905) 407-9586 Email: sbalch@hudsonriverminerals.com
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