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Helio (TSX-V:HRC) Completes First Tranche of Non-Brokered Private Placement for Proceeds of $2,955,000
"NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSW...
About this update from Winshear Metals Corp.
[{"type":"text","content":"\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\n\n\nVANCOUVER, June 13, 2014 /CNW/ - Helio Resource Corp. (TSX.V: HRC) (\"Helio\" or the \"Company\") is pleased to announce that, further to its news release of May 28,\n 2014, it has closed the first tranche of its non-brokered private\n placement for proceeds of $2,955,000. The Company has issued 59,100,000 units (the \"Units\") at a price of $0.05 per Unit. Each Unit consists of one common share (a \"Common Share\") and one half of one (1/2) common share purchase warrant (each full warrant being a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share for a\n period of two years expiring June 13, 2016, at a price of $0.10 per share. Commissions of 6% in cash ($118,800), and 6% in finders\n units (2,376,000 units) of the Company (on terms similar to the Units),\n were paid and issued on a portion of the first tranche of the\n financing. All securities issued are subject to a hold period of four\n months plus one day, expiring October 14, 2014. The Company is still\n planning to raise an additional $1,050,000 in the second tranche of its\n financing to raise a total of $4,005,000.\n\n\nCE Mining Limited and Second Tranche of Financing\n\n\nIn the first tranche of the financing, CE Mining Limited (\"CE Mining\") subscribed for 19,000,000 Units for proceeds of $950,000. CE Mining\n now owns, after completion of the first tranche of the financing,\n 39,000,000 shares or 19.79% of the issued and outstanding common shares\n of the Company on a non-diluted basis (30.23% on a partially diluted\n basis).  CE Mining also proposes to acquire an additional 21,000,000\n Units of the Company for proceeds of $1,050,000 in the second tranche\n of the financing. It is expected that CE Mining will be the only placee\n in the second tranche. CE Mining would then become a \"Control Person\"\n under applicable securities legislation and, under the policies of the\n TSX Venture Exchange, the Company is required to first seek\n disinterested shareholder approval of an ordinary resolution of CE\n Mining's proposed investment. Such approval will be sought at a Special\n General Meeting of the shareholders of the Company set for July 25,\n 2014 (the \"SGM\"). CE Mining, as an intereste...