By Sheri Kasprzak
New York, April 6 - Hudson Resources Inc. said it has priced a C$3 million private placement.
The company plans to sell 5 million units of one share and one half-share warrant.
The whole warrants are exercisable at C$0.80 each for one year and at C$1.00 for the remaining one year.
Paradigm Capital Inc. and Raymond James Ltd. are the placement agents and have a greenshoe for up to C$2 million.
The deal is scheduled to close April 18.
Proceeds will be used for the advancement of the company's Greenland diamond properties.
Based in Vancouver, B.C., Hudson is a diamond exploration company.
| Issuer: | Hudson Resources Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$3 million
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| Greenshoe: | For C$2 million
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| Units: | 5 million
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.80 for the first year, C$1.00 for the second year
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| Placement agents: | Paradigm Capital Inc. and Raymond James Ltd.
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| Pricing date: | April 6
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| Settlement date: | April 18
|
| Stock symbol: | TSX Venture: HUD
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| Stock price: | C$0.70 at close April 6
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