By Sheri Kasprzak
Atlanta, Oct. 15 - Hudson Resources Inc. hopes to raise C$1.512 million in a brokered private placement of units.
The deal, in which Dundee Securities Corp. and Canaccord Capital Corp. are acting as lead agents, will be comprised of 2.75 million units at C$0.55 per unit.
Each unit consists of one share and one-half warrant. Each warrant is exercisable for an additional share for two years after the closing at C$0.85. The warrants have an acceleration clause that reduces the expiry period if the shares trade above C$1.40.
Hudson is a diamond exploration company based in western Greenland. The company plans to use the funds from the financing for advancing its diamond properties and for general and administrative expenses, as well as working capital.
| Issuer: | Hudson Resources Inc.
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| Issue: | Units of one share and ½ share purchase warrant
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| Amount: | C$1,512,500
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| Shares: | 2.75 million units
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| Price: | C$0.55 per unit
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| Warrants: | ½ share purchase warrant for each share
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.85
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| Placement agent: | Dundee Securities Corp. and Canaccord Capital Corp.
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| Announcement date: | Oct. 15
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| Stock price: | C$0.60 at close Oct. 15
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