|Tue Jan 30, 2007|
Helio To Raise Up To $4,900,000 By Way Of A Private Placement
|Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce a non-brokered Private Placement of up to 7,000,000 Units of the Company at a price of $0.70 per Unit for gross proceeds of up to $4,900,000. The Private Placement is open to residents of British Columbia, Alberta, Ontario and any other qualifying international jurisdictions. Each Unit will be comprised of one common share and one half of one common share purchase warrant. One full share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $0.95 per share for a period of eighteen months from the closing of the Private Placement. |
If, after the statutory four-month hold-period following the closing of the Private Placement, the common shares of the Company trade at a price of $1.20 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.
A Finders Fee of 7% cash and 7% Finders Warrants will be paid on a portion of the financing. One Finders Fee Warrant will entitle the holder to purchase one common share of the Company at a price of $0.70 per share for a period of eighteen months from the closing of the Private Placement.
The proceeds of the Offering will be used by Helio for general working capital and corporate purposes. The Offering is subject to TSX Venture Exchange (the "Exchange") approval.
For additional information, please contact Richard Williams or Irene Dorsman at (604) 668 8363 or by e-mail to firstname.lastname@example.org or email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
"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.
"This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available."
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