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 Tue Jun 17, 2008
Helio Closes Bought-Deal Brokered Private Placement for $5,100,000

 

Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce that it has closed the previously announced (see Company news release dated May 23, 2008) bought-deal brokered private placement with Primary Capital Inc. of Toronto (the "Agent").

The financing comprised 6,000,000 Units of the Company at a price of $0.85 per Unit for gross proceeds of $5,100,000 (the "Private Placement"). Each Unit is comprised of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the Company at a price of $1.10 for a period of one year ending June 16, 2009 and at a price of $1.25 during the second year, from June 17, 2009 to June 16, 2010.

A 6% cash commission has been paid to the Agent. In addition, the Agent will receive 360,000 Agents Warrants. Each Agent Warrant will be exercisable at a price of $0.85 per Agents Warrant into Units of the Company (the Agent's Units). The Agents Units will be comprised of one common share and one half of one common share purchase warrant and the warrant will have terms similar to the warrants issued pursuant to the Units.

All securities issued are subject to a hold period expiring October 17, 2008. The proceeds of the Offering will be used by Helio for general corporate working capital.

For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to richard@helioresource.com or irene@helioresource.com.

ON BEHALF OF THE BOARD OF DIRECTORS
HELIO RESOURCE CORP

"Richard D. Williams"
Richard D. Williams, P.Geo
CEO
"Chris MacKenzie"
Christopher J. MacKenzie, C.Geol.
COO

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

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