Show printable version of 'Helio Closes $2,000,000 Private Placement' in a New Window
News Releases
 Fri Feb 17, 2006
Helio Closes $2,000,000 Private Placement

 Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) announces that it has closed the previously announced Private Placement (see news release dated January 16, 2006) by issuing 4,000,000 Units of the Company at a price of $0.50 per Unit for gross proceeds of $2,000,000. The Private Placement was fully subscribed.

Each Unit comprises one common share and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.75 per share for a period of two years, expiring February 16, 2008. The Units are subject to a four month hold-period, which will expire on June 17, 2006.

If, after June 17, 2006, the common shares of the Company trade at a price of $0.90 or greater for a period of 20 consecutive trading days, the Company shall be entitled to provide notice to the warrant holders that the warrants shall expire 30 days after providing such notice.

The Company paid cash commissions totalling $140,000 (7%). In addition, the Agent has been granted Agent's Warrants entitling the Agent to purchase 280,000 common shares at a price of $0.50 per share for a period of two years from closing.

Helio Resource Corp., based in Windhoek, Namibia, is one of Southern Africa's leading exploration companies and specializes in innovative new-project generation. Helio is actively exploring 11 prospective gold, copper and diamond properties in Namibia, Botswana and Tanzania. As part of its strategic approach to project development, Helio has forged partnerships with firms such as Teck Cominco, Indicator Minerals, Yale Resources, Boulder Mining and Springbok Resources to advance a number of its projects.

For additional information, please contact Richard Williams or Irene Dorsman at (604) 668 8356 or by e-mail to or


"Richard D. Williams"

Richard D. Williams, P.Geo

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

You can return to the Top of this page