|Mon Dec 6, 2004|
Helio Engages Pacific International Secruities Inc. To Raise Up To $2,000,000 By Way Of A Short Form Offering Document
|Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce that it has engaged Pacific International Securities Inc. to act as its Agent to offer (the "Offering"), on a commercially reasonable efforts basis by way of a Short Form Offering Document, up to 4,000,000 Units of the Company at a price of $0.50 per Unit for gross proceeds of up to $2,000,000 to residents of British Columbia and Alberta and any other qualifying international jurisdictions. Each Unit will be comprised of one common share and one half of one share purchase warrant. One whole share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $0.50 per share for a period of twelve months from the closing date of the Offering. In consideration for the Agent's services, the Company has agreed to pay a commission of 10% on the gross proceeds of the Offering, payable in cash or Units at the election of the Agent. In addition, the Agent will be granted Agent's Warrants entitling the Agent to purchase that number of common shares that is equal to 10% of the number of Units issued under the Offering. The Company has also agreed to pay a Corporate Finance Fee of $20,000 to the Agent, such fee payable on completion of the Offering. The Company is also responsible for paying all reasonable costs incurred by the Agent in connection with the Offering.|
The proceeds of the Offering will be used by Helio to advance its exploration properties in Namibia along the recommendations made by Steffen Robertson and Kirsten (South Africa) (Proprietary) Limited ("SRK") in its National Instrument 43 - 101 compliant technical report dated May 19, 2004 (available at www.sedar.com), and for general working capital and corporate purposes.
The Offering is subject to TSX Venture Exchange (the "Exchange") approval.
In addition, the Company has granted a total of 1,525,000 stock options under its Stock Option Plan at an exercise price of $0.50 per share. Of the amount granted, 1,350,000 stock options were granted to insiders of the Company. The stock option exercise price has been set at $0.50 per share. The Company will file, in accordance with Exchange policies, a Summary Form disclosing the grant of the options.
For additional information, please contact Richard Williams at (604) 668 8356 or by email at firstname.lastname@example.org
ON BEHALF OF THE BOARD OF DIRECTORS,
"Richard D. Williams"
Richard D. Williams, P.Geo
"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."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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