By Laura Lutz
Washington, Jan. 30 - Helio Resource Corp. announced a private placement of units for up to C$4.9 million.
The company plans to sell up to 7 million units of one share and one half-share warrant at C$0.70 per unit. Each whole warrant will be exercisable at C$0.95 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the company's shares trade at or above C$1.20 for 20 consecutive trading days.
Proceeds of the non-brokered deal will be used for working capital and general corporate purposes.
Based in Vancouver, B.C., Helio is focused on exploration for gold, copper and diamonds.
| Issuer: | Helio Resource Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.9 million
|
| Units: | 7 million
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.95
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 30
|
| Stock symbol: | TSX Venture: HRC
|
| Stock price: | C$0.79 at close Jan. 30
|
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