Hudson Resources negotiates C$3 million private placement of units

By Sheri Kasprzak

New York, March 6 - Hudson Resources Inc. said it has retained a syndicate of agents led by Paradigm Capital Inc. and Raymond James Ltd. to raise C$3 million in a private placement.

The pricing terms of the offering have not yet been determined, but the syndicate has a greenshoe for up to C$2 million.

The units will include one share and one half-share warrant, exercisable for two years.

The deal is expected to close April 6.

Proceeds will be used for the advancement of the company's Greenland diamond properties.

Based in Vancouver, B.C., Hudson is a diamond exploration company.

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