Deal conducted with IFC to fund development, exploration of projects
By Devika Patel
Knoxville, Tenn., Nov. 9 - Helio Resource Corp. said it will conduct a C$1.7 million private placement of units with IFC.
The company will sell 5 million units of one common share and one half-share warrant at C$0.34 per unit. Each whole warrant will be exercisable at C$0.425 for two years. The strike price reflects a 21.43% premium to the Nov. 8 closing share price of C$0.35.
Settlement is expected on Nov. 23.
Proceeds will be used for development and exploration of the SMP Gold Project and the Damara Gold Project and for general working capital.
Based in Vancouver, B.C., Helio is a gold exploration company focused on high-quality project generation in southern Africa.
| Issuer: | Helio Resource Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.7 million
|
| Units: | 5 million
|
| Price: | C$0.34
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.425
|
| Investor: | IFC
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 23
|
| Stock symbol: | TSX Venture: HRC
|
| Stock price: | C$0.35 at close Jan. 21
|
| Market capitalization: | C$37.27 million
|
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