Huldra Silver Inc. Announces the Close of Two Non Brokered Private Placements for Gross Proceeds of $1,910,480 and Retention of
23 December 2010 - 9:04AM
Marketwired
Huldra Silver Inc. (TSX VENTURE: HDA) (the "Company" or "Huldra
Silver") is pleased to announce it has closed two private
placements for total gross proceeds of $1,910,480. The first
non-brokered private placement was for 1,799,000 units at a price
of $0.52 per unit, with each unit consisting of one common share
and one common share purchase warrant to purchase an additional
share at $0.75 until June 22, 2012, subject to a right of call of
the Company. The second non-brokered private placement was for
1,625,000 units priced at $0.60 per unit, with each unit consisting
of one common share and one common share purchase warrant to
purchase an additional share at $0.75 until December 22, 2012.
Finder's fees consisting of the issuance of an aggregate of 121,800
broker warrants, each having an exercise price of $0.75 per share
and exercisable until June 22, 2012, and a cash payment of $68,136
were paid in connection with the financings.
The company is pleased to have Sprott Asset Management LP, on
behalf of certain funds and managed accounts, participate in these
private placements for in excess of $1 million dollars.
The proceeds will be used to advance exploration and development
of Huldra's 100% owned Treasure Mountain Project and for working
capital purposes. For more information visit the Company's website
at www.huldrasilver.com.
SEQUOIA PARTNERS
The Company also wishes to announce that it has retained Sequoia
Partners Inc. to provide investor relations and consulting services
to the Company. Sequoia will receive a monthly retainer of $5,000
and the Company will also issue to Sequoia an option to purchase
200,000 common shares pursuant to the Company's stock option plan.
The options and the contract with Sequoia are subject to the
approval of the TSX Venture Exchange.
Huldra Silver is currently working on plans to put the Treasure
Mountain Project, located 3 hours east of Vancouver, BC, into
development subject to permitting and financing. The Company is
also actively assessing other opportunities for acquisition and
development.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company's overall business development objectives and plans.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, and include
that the Company intends to put the Treasure Mountain Project into
development. Such statements are subject to risks and uncertainties
that may cause actual results, performance or developments to
differ materially from those contained in the statements. No
assurance can be given that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what
benefits the Company will obtain from them. These forward-looking
statements reflect management's current views and are based on
certain expectations, estimates and assumptions which may prove to
be incorrect. A number of risks and uncertainties could cause the
Company's actual results to differ materially from those expressed
or implied by the forward-looking statements, including: (1) a
downturn in general economic conditions in North America and
internationally, (2) the inherent uncertainties and speculative
nature associated with silver exploration, (3) a decreased demand
for silver, (4) any number of events or causes which may delay
exploration and development of the Company's property interests,
such as environmental liabilities, weather, mechanical failures,
safety concerns and labour problems, (5) the risk that the Company
does not execute its business plan, (6) inability to finance
operations and growth, (7) inability to obtain all necessary
permitting and financing, and (8) other factors beyond the
Company's control. These forward-looking statements are made as of
the date of this news release and the Company assumes no obligation
to update these forward-looking statements, or to update the
reasons why actual results differed from those projected in the
forward-looking statements, except in accordance with applicable
securities laws. Additional information about the Company and these
and other assumptions, risks and uncertainties is available in the
Company's public filings with Canadian securities regulators,
available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Huldra Silver Inc. Ryan Sharp 604-818-1486
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com
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