Huldra Silver plans to price C$7 million private placement of stock

Shares sold on a best-efforts basis by syndicate led by National Bank

By Devika Patel

Knoxville, Tenn., June 14 - Huldra Silver Inc. said it has arranged a C$7 million private placement of stock. The deal will be conducted on a best-efforts basis by a syndicate of agents led by National Bank Financial Inc. and including BayFront Capital Partners and Pope & Co. Ltd. Huldra also plans a C$1.5 million non-brokered private placement of stock.

In the brokered offering, the company will sell C$4 million of common shares and C$3 million of flow-through common shares. The shares will price within the market context. In the non-brokered sale, Huldra will sell flow-through common shares at the same price as those sold in the brokered placement.

Settlement is expected June 29.

Proceeds will be used to advance the Treasure Mountain project toward production, for resource exploration, debt repayment and general working capital purposes.

Vancouver, B.C.-based Huldra is a silver explorer.

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