LONDON, England, Sept. 20, 2019 /CNW/ - As required by National
Instrument 62-103 of the Canadian Securities Administrators, CE
Mining Limited ("CE Mining") announces that on September 19, 2019, it acquired 833,333 Units of
Helio Resource Corp. (the "Company") at a price of
$0.06 per Unit as part of a private
placement of an aggregate of 15,000,000 Units completed by the
Company on that date (the "Private Placement"). Each Unit
consisted of one common share of the Company (a "Common
Share") and one-half of one warrant to purchase a Common Share
(a "Warrant"). Each full Warrant entitles the holder thereof
to purchase one Common Share at a price of $0.10 per share for a period of 12 months.
Concurrently with the Private Placement, the Company also
completed (i) an acquisition of two mining projects located in
Peru for consideration that
included the issuance of 5,000,000 Common Shares on closing and
(ii) the settlement of certain debts of the company through the
issuance of 1,5000,000 Common Shares (such transactions, together
with the Private Placement, being the "Transaction"). Upon
completion of the Transaction, based on the Company's public
disclosure, there were a total of 32,449,318 Common Shares
outstanding. Further information on the Transaction is set out in
the Company's press release of September 19,
2019.
Prior to the Transaction, CE Mining and its joint actors had
ownership or control over 3,584,000 Common Shares, representing
approximately 32.73% of the 10,949,318 Common Shares that were
outstanding prior to the Transaction together with warrants to
purchase an additional 48,000 Common Shares.
After giving effect to the Transaction, CE Mining and its joint
actors had ownership or control over 4,417,333 Common Shares,
representing approximately 13.61% of the Common Shares outstanding,
together with 416,667 Warrants and warrants to purchase an
additional 48,000 Common Shares.
CE Mining and its joint actors hold securities of Helio for
investment purposes. CE Mining and its joint actors may, from time
to time, on an individual or joint basis, directly or indirectly,
acquire ownership of or control over additional securities of Helio
or dispose of securities of Helio..
The head office of Helio is located at:
580-625 Howe Street
Vancouver, BC
V6C 2T6
CE Mining's address is:
Anson Court
La Route des Camps
St. Martin, Guernsey GYI
SOURCE CE Mining Limited