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Hilo Mining Announces Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Hilo Mining Ltd. (TSXV: HILO)...
About this update from Grit Metals Corp.
[{"type":"text","content":"Hilo Mining Announces Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Hilo Mining Ltd. (TSXV: HILO) (\"Hilo Mining\" or the \"Company\") is pleased to announce a non-brokered private placement (the \"Private Placement\") consisting of up to units 12,800,000 (\"Units\") at a price of $0.09 per Unit for total gross proceeds of up to $1,152,000. Each Unit consists of one common share and one-half of a common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable for one additional common share at an exercise price of $0.15 for a period of 18 months following closing of the Private Placement. The Company may pay finders' fees and issue finders' securities on all or a portion of the Private Placement.All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance. The Company intends to use the net proceeds of the Private Placement for exploration work on its properties and for working capital. Closing of the Private Placement is subject customary conditions of closing, including the approval of the TSX Venture Exchange.About Hilo Mining Ltd.Hilo Mining Ltd. is a junior mining company currently focussed on the Champ precious metal property near Castlegar, British Columbia. In addition, the Company is currently reviewing additional opportunities to increase shareholder value.FOR FURTHER INFORMATION PLEASE CONTACT: Jeremy Poirier, CEOTelephone: 604-722-9842Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements Regarding Forward Looking InformationThis press release includes certain \"forward-looking information\" and \"forward-looking statements\" (collectively \"forward-looking statements\") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, b...