• 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.


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