By Laura Lutz
Des Moines, April 26 - Hi Ho Silver Resources Inc. arranged a private placement of units for up to C$2.625 million.
The company plans to sell up to 1.5 million units of one share and one non-transferable warrant at C$1.75 per unit. Each warrant will be exercisable at C$2.00 for two years.
The deal will be non-brokered.
Proceeds will be used for exploration on the company's properties, potential future acquisitions and working capital.
Hi Ho is a mineral exploration company based in Mississauga, Ont.
Issuer: | Hi Ho Silver Resources Inc.
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Issue: | Units of one share and one non-transferable warrant
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Amount: | C$2.625 million
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Units: | Up to 1.5 million
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Price: | C$1.75
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$2.00
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Agent: | Non-brokered
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Pricing date: | April 26
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Stock symbol: | CNQ: HIHO
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Stock price: | C$1.95 at close April 26
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