Hudson River Completes Non-Brokered Private Placement
03 Janeiro 2012 - 1:53PM
PR Newswire (Canada)
TSX-V: HRM TORONTO, Jan. 4, 2012 /CNW/ - Hudson River Minerals Ltd.
("Hudson River" or the "Company") is pleased to announce that on
December 30, 2011 it closed a non-brokered private placement of
units issued on a flow-through basis ("Flow-Through Units") at a
price of $0.08 (Canadian) per Flow-Through Unit for gross proceeds
of CND$155,000 with 1,937,500 Flow-Through Units being issued. In a
concurrent offering, the Company also issued units on a
non-flow-through basis ("Hard Units") at a price of $0.07
(Canadian) per Hard Unit for gross proceeds of CND$250,000 with
3,571,428 Hard Units being issued (collectively, the "Offering").
Each Flow-Through Unit sold under the Offering consists of one
common share in the capital of the Company issued as a
"flow-through share" (a "Flow-Through Share") and one-half of one
non-flow-through non-transferrable common share purchase warrant (a
"Flow-Through Unit Warrant"). Each whole Flow-Through Unit Warrant
is exercisable into one common share of the Company at an exercise
price of $0.16 (Canadian) per share to the extent such Flow-Through
Unit Warrant is exercised in whole or in part at any time prior to
5:00 p.m. (Toronto time) on December 30, 2013. The hold period for
the Flow-Through Shares expires on May 1, 2012. Each Hard Unit sold
under the Offering consists of one common share in the capital of
the Company issued on a non-flow-through basis (the "Hard Unit
Shares") and one-half of one non-flow-through non-transferrable
common share purchase warrant (a "Hard Unit Warrant"). Each whole
Hard Unit Warrant is exercisable into one common share of the
Company at an exercise price of $0.15 (Canadian) per share to the
extent such Hard Unit Warrant is exercised in whole or in part at
any time prior to 5:00 p.m. (Toronto time) on December 30, 2013.
The hold period for the Hard Unit Shares expires on May 1, 2012.
Finders used to source subscribers were paid a commission of 7% of
the total gross proceeds, payable in cash for a total commission of
CDN$11,375, and 7% payable as compensation options (the "Finder
Warrants") for a total of 148,125 Finder Warrants. The Finder
Warrants are exercisable into one common share of the Company at an
exercise price of $0.15 (Canadian) per share to the extent such
Finder Warrant is exercised in whole or in part at any time prior
to 5:00 p.m. (Toronto time) on December 30, 2013. 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. 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 document may
contain forward-looking statements relating to Hudson River's
operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict and
may be beyond Hudson River's control. A number of important factors
could cause actual outcomes and results to differ materially from
those expressed in forward-looking statements, including those set
forth in other public filings. In addition, such statements relate
to the date on which they are made. Consequently, undue
reliance should not be placed on such forward-looking
statements. 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.
Hudson River Minerals Ltd. CONTACT: Hudson River Minerals
Ltd.Stephen J. Balch, President and CEOTel: (905) 407-9586Email:
sbalch@hudsonriverminerals.com
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