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H-SOURCE ANNOUNCES CLOSING OF $1.75 MILLION BROKERED PRIVATE PLACEMENT
H-SOURCE ANNOUNCES CLOSING OF $1.75 MILLION BROKERED PRIVATE PLACEMENT.
About this update from H-source Holdings Ltd
[{"type":"text","content":"H-SOURCE HOLDINGS LTD. Suite 1980, 1075 West Georgia Street Vancouver, British Columbia, Canada V6E 3C9H-SOURCE ANNOUNCES CLOSING OF $1.75 MILLION BROKERED PRIVATE PLACEMENT Over-Allotment Option Exercised in FullVANCOUVER, BRITISH COLUMBIA – January 4, 2018 – H-Source Holdings Ltd. (TSXV: HSI; OTCQB: HSCHF) (the “Company” or “H-Source”) is pleased to announce that, further to its news release of December 22, 2017, it has completed its private placement offering (the “Offering”) of common shares of the Company pursuant to an agency agreement dated January 4, 2018 between H-Source and Mackie Research Capital Corporation as lead agent and sale book-runner (the “Agent”). Pursuant to the Offering, H-Source sold an aggregate 17,250,000 common shares at a price of C$0.10 per common share for aggregate gross proceeds of C$1,750,000, which includes 2,250,000 common shares sold pursuant an over-allotment option granted to the Agent which was exercised in full.In consideration of the services rendered by the Agent in connection with the Offering, the Agent received from the Company a commission equal to 7.5% of the gross proceeds arising from the Offering, subject to certain exclusions. As additional compensation, the Agent were issued non-transferable warrants (the the “Compensation Options”) to acquire common shares from treasury in an amount equal to 7.5% of the common shares issued pursuant to the Offering, subject to certain exclusions. The Compensation Options are exercisable at a price of C$0.10 per Compensation Option until July 4, 2019.The net proceeds of the Offering will be used for general working capital purposes.All of the securities of the Company issued under the Offering are subject to a hold period which will expire on May 5, 2018 in accordance with applicable Canadian securities laws.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and any applicable state securities laws or an exemption from such registration requirements...