Company sells 4.05 million units at C$0.40 through non-brokered deal
By Devika Patel
Knoxville, Tenn., Aug. 12 – Hudson Resources Inc. said it settled a C$1.62 million non-brokered private placement of units. The deal priced for C$1.6 million on Aug. 3.
The company sold 4.05 million units of one common share and one half-share warrant at C$0.40 per unit. Each whole three-year warrant will be exercisable at C$0.60 until Aug. 10, 2019. The strike price reflects a 46.34% premium to the Aug. 2 closing share price of C$0.41.
Proceeds will be used for construction activities at the White Mountain Anorthosite Project and general corporate purposes.
Hudson is a resource exploration company based in Vancouver, B.C.
| Issuer: | Hudson Resources Inc.
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| Issue: | Units of one common share and one half-share warrant
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| Amount: | C$1.62 million
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| Units: | 4.05 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Aug. 10, 2019
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| Warrant strike price: | C$0.60
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| Agent: | Non-brokered
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| Pricing date: | Aug. 3
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| Settlement date: | Aug. 12
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| Stock symbol: | TSX Venture: HUD
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| Stock price: | C$0.41 at close Aug. 2
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| Market capitalization: | C$30.79 million
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