Helena Resources Limited
NEX BOARD : HRS.H

November 29, 2006 17:07 ET

Helena Resources Limited: Shares for Debt Settlement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 29, 2006) - Helena Resources Limited (the "Company") (NEX BOARD:HRS.H) has agreed to convert $27,500 of debt to common shares by the issue of 211,538 common shares at a deemed issue price of $0.13 per share. The shares will have trading restrictions as required by the TSX Venture Exchange and Securities Law. There will be no warrants attached to these shares. This settlement is in full and complete repayment of outstanding consulting fees owed to Ernest Resources Limited, a company controlled by Mr. Barrett Sleeman, a director and President of the Company. This debt-settlement transaction is subject to regulatory approval.

On behalf of the board of directors

HELENA RESOURCES LIMITED

Barrett Sleeman, President


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Helena Resources Limited
    Mr. Salvador Miranda
    (604) 806-6110
    (604) 806-6112 (FAX)