By Devika Patel
Knoxville, Tenn., July 16 - Hudson Resources Inc. said it completed a C$1.06 million non-brokered private placement of units. The deal priced for C$1 million with a C$1 million greenshoe on June 15.
The company sold 5.3 million units of one common share and one warrant at C$0.20 apiece.
The warrants are exercisable at C$0.30 for 18 months.
The warrants may expire sooner if the company's shares trade above a weighted average of C$0.50 for 20 days.
Proceeds will be used for exploration and general corporate purposes.
Hudson is a resource exploration company based in Vancouver, B.C.
| Issuer: | Hudson Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.06 million (including C$60,000 greenshoe)
|
| Units: | 5.3 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Settlement date: | July 16
|
| Stock symbol: | TSX Venture: HUD
|
| Stock price: | C$0.21 at close June 15
|
| Market capitalization: | C$6.73 million
|
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