Val d'Or, Quebec - Hinterland Metals Inc. (HMI: TSX-Venture) ('Hinterland') announces that it has arranged a non-brokered private placement of 10 million units at a purchase price of $0.05 per unit for gross proceeds of up to $500,000 with each unit consisting of one common share and a one share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.10 per share for a period of 24 months from closing.
The securities sold under the private placement will be issued pursuant to exemptions from the prospectus and registration requirements of applicable securities laws, subject to the receipt of necessary regulatory approvals and to a four month hold period from closing. The proceeds from the private placement will be used by Hinterland for general working capital and to conduct exploration work on its properties. Finders fees will be payable within the TSX Venture Exchange guidelines.
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 release. This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.