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Helio Announces Closing of First Tranche of Non-Brokered Private Placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE ...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO\n UNITED STATES NEWSWIRE SERVICES./ \n\n\nTSX-V Trading Symbol: HRC\nToll Free: +1 888 955 4728\nE-mail: [email protected]\nWebsite: www.helioresource.com\n\n\nVANCOUVER, May 9, 2013 /CNW/ - Helio Resource Corp. (TSX.V: HRC) (\"Helio\" or the \"Company\") is pleased to announce that,\n following successful completion of due diligence by CE Mining Limited\n (\"CE Mining\"), it has closed the first tranche of the $1.75 million\n non-brokered private placement announced on April 22, 2013. Pursuant to\n closing the first tranche for gross proceeds of $1,400,000, Helio has\n issued 20,000,000 Units of the Company to CE Mining, a Guernsey based\n company.\n\n\nEach Unit issued to CE Mining consists of one common share of the\n Company (a \"Common Share\") and one common share purchase warrant of the\n Company (a \"Warrant\"). Each Warrant will entitle the holder thereof to\n acquire one Common Share at a price of $0.14 for a period of two years\n from closing, expiring on May 8, 2015. All securities issued in\n connection with this partial closing of the private placement are\n subject to a four-month plus one day hold, which expires September 9,\n 2013. As a result of this partial closing, the Company has 130,602,959\n shares issued and outstanding.\n\n\nThe balance of the placement (5,000,000 Units) will be placed by Helio.\n CE Mining has the right to subscribe for any Units not placed by the\n Company. Assuming that CE Mining subscribes for no more than a total of\n 20,000,000 Units, it will own 14.75% of the issued and outstanding\n share capital of the Company upon closing of a fully subscribed\n placement. No commissions have been or shall be paid in connection with\n this financing.\n\n\nDirector Appointment, Memorandum of Agreement, Operating Agreement and\n Investment Agreement\n\n\nClosing of the first tranche of the private placement follows the\n signing by the Company of an Operating Agreement with Plinian Capital\n LLP (\"Plinian\") and a Memorandum of Agreement and an Investment\n Agreement with CE Mining. These agreements provide for, in addition to\n other matters:\n\n\nThe appointment of one new director, Mr. Bradford A. Mills, to the Board\n of Directors of Helio, subject to TSX Venture Exchange approval. In\n addition, the Company ...