- Hilo Mining (HILO) announced a non-brokered private placement for gross proceeds of up to $1,152,000
- The offering will consist of up to 12,800,000 units at a price of $0.09 per unit
- The company plans to use the net proceeds for exploration work on its properties and for working capital
- Hilo Mining Ltd. is a junior mining company currently focused on the Champ precious metal property near Castlegar, British Columbia
- Hilo Mining Ltd. was unchanged at $0.125 per share at 11:17 AM ET
Hilo Mining (HILO) announced a non-brokered private placement for gross proceeds of up to $1,152,000.
The offering will consist of up to 12,800,000 units sold at a price of $0.09 per unit.
Each unit consists of one common share and one-half of a common share purchase warrant. Each warrant is exercisable for one additional common share at an exercise price of $0.15 for a period of 18 months following the closing of the private placement.
The company may pay finders’ fees and issue finders’ securities on all or a portion of the private placement.
All securities issued are subject to a statutory four-month hold period.
Net proceeds will be used to fund exploration work on its properties and for working capital.
Closing of the private placement is subject to the approval of the TSX Venture Exchange.
Hilo Mining Ltd. is a junior mining company currently focused on the Champ precious metal property near Castlegar, British Columbia.
Hilo Mining Ltd. was unchanged at $0.125 per share at 11:17 AM ET.