Helio Closes $5.25 Million Private Placements

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[{"type":"text","content":"\n\n\n\nTSX-V Trading Symbol: HRC Tel.: 604 - 638 8005\nE-mail: [email protected] Website: www.helioresource.com\n\n\nVANCOUVER, April 8 /CNW/ - Helio Resource Corp. (TSX-V:HRC) ("Helio" or\nthe "Company") is pleased to announce that it has closed the previously\nannounced 8,000,000 unit Brokered Private Placement and the 7,000,000 unit\nNon-Brokered Private Placement (see news release dated March 13, 2009), for\ngross proceeds to the Company of $5,250,000.\n\n\n$2,800,000 Brokered Private Placement\n-------------------------------------\n\n\nThe Company engaged Dundee Securities Corporation, Primary Capital Inc.,\nToll Cross Securities, and PI Financial Corp. as agents (the "Agents") to sell\non a Brokered Private Placement basis 8,000,000 units (the "Units") of Helio\nat a price of $0.35 per Unit for total gross proceeds to the Company of\n$2,800,000 (the "Offering").\n\n\nEach Unit consists of one common share plus one half of one transferable\ncommon share purchase warrant with each whole purchase warrant exercisable\ninto a common share at a price of $0.50 in the first year and $0.60 in the\nsecond year following the closing. The warrants will not be listed for\ntrading.\n\n\nIn connection with the Offering, the Agents received a cash commission of\n6% of the gross proceeds ($168,000) raised under the Offering plus broker\nwarrants (the "Broker Warrants") equal to 6% of the number of Units sold\n(480,000 Broker Warrants) under the Offering. The Broker Warrants are\nexercisable into common shares at a price of $0.35 per Broker Warrant until\nApril 8, 2011.\n\n\nThe common shares issued as a result of this Offering will have a\nstatutory 4 month hold period, such hold period expiring on August 9, 2009.\n\n\n$2,450,000 Non-Brokered Private Placement\n-----------------------------------------\n\n\nThe Company also closed a non-brokered private placement of 7,000,000\nunits having the same terms as the Units for net proceeds to the Company of\n$2,450,000. Macquarie Bank Limited is the sole placee and, as a result of the\nplacement, will own approximately 10.7% of the issued and outstanding share\ncapital of the Company (up to approximately 15.5% on a partially diluted\nbasis, assuming the exercise of all of its warrants). A compensation fee\ncomprising 210,000 warr...

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