HASTINGS RESOURCES CORP.
FOR IMMEDIATE RELEASE
Tuesday, April 8, 2008
(No. 2008-04-02)
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Contact:????? Investor Relations????????????????????????????????????????????????????????????????????????????????????????????????????????????????
????????????????? Phone (604) 684-2181
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Hastings Announces Non-Brokered Private
Placement
NOT FOR RELEASE TO U.S.
NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vancouver,
B.C. ? April 8, 2008 ? Hastings Resources Corp. (TSX Venture: HAS) (?Hastings?
or the ?Company") is pleased
to announce
a non-brokered private placement financing.
The
Company proposes to issue up to 2,000,000 units (the ?Units?) at a price of
$0.20 per Unit and up to 4,000,000 flow-through units (the ?FT Units?) at a
price of $0.25 per FT Unit.
Each
Unit will consist of one common share and one-half of one transferable common
share purchase warrant.? Each whole
warrant will be exercisable into one additional common share of the Company for
12 months from closing at an exercise price of $0.30 per common share.
Each
FT Unit will consist of one flow-through common share and one-half of one
warrant.? Each whole warrant will be
exercisable into one additional common share of the Company for 12 months from
closing at an exercise price of $0.35 per common share.
A
finder?s fee of 7% will be paid on all or a portion of the private
placement.? The private placement is
subject to TSX Venture Exchange approval.
?
The proceeds
are currently proposed to be spent on general working capital and exploration
of the Company?s properties located in south-central and northwestern British
Columbia. The gross
flow-through proceeds raised from the private placement will be used for
general exploration expenditures, which will constitute Canadian exploration
expenses (as defined in the Canada Income Tax Act) and will be renounced for
the 2008 income tax year.
ON BEHALF OF THE BOARD OF DIRECTORS
HASTINGS RESOURCES CORP.
?PEEYUSH VARSHNEY?
PEEYUSH VARSHNEY
DIRECTOR
This news
release does not constitute an offer to sell or a solicitation of an offer to
sell any of securities in the United
States.? The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
?U.S. Securities Act?) or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
 
