- Hilo Mining (HILO) has closed its non-brokered private placement for total gross proceeds of $1,152,000
- The company issued 12,800,000 units for $0.09 per unit
- Net proceeds will be used for exploration work on its properties
- Hilo Mining is a junior mining company currently focussed on the Champ precious metal property near Castlegar, British Columbia
- Hilo Mining Ltd. (HILO) opened trading at C$0.33
Hilo Mining (HILO) has closed its previously announced non-brokered private placement for total gross proceeds of $1,152,000.
The company issued 12,800,000 units for $0.09 per unit.Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant is exercisable for one additional common share at an exercise price of $0.15 for a period of 18 months following the closing date of the offering.
The company paid Leede Jones Gable Inc. a cash finder’s fee of $64,316 and issued 918,799 finder’s units.
All securities issued are subject to a statutory four-month hold period.
Net proceeds will be used for exploration work on its properties and for working capital.
About Hilo Mining
Hilo Mining is a junior mining company currently focused on the Champ precious metal property near Castlegar, British Columbia.
Hilo Mining Ltd. (HILO) opened trading at C$0.33.
