Herdron Capital Corp.

July 13, 2009 14:05 ET

Herdron Capital Provides Update On: Qualifying Transaction and Concurrent Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2009) - Herdron Capital Corp. ("Herdron" or the "Corporation") (TSX VENTURE:HDC.P) today announced it has engaged CHF Investor Relations to help the Corporation secure investors for the concurrent financing for the Qualifying Transaction.

Herdron President and CEO, Stuart Ross stated, "We are pleased to have CHF's expertise to assist us finalizing our Qualifying Transaction."

The Corporation anticipates raising gross proceeds of up to $2,450,000 pursuant to a private placement of up to 7,000,000 units of the Corporation ("Units") at a price of $0.35 per Unit, with each Unit comprised of one common share of the Corporation and one common share purchase warrant (a "Warrant") exercisable for a period of two years. Each Warrant entitles the holder to acquire one additional common share of the Corporation at a price of $0.45 for the first year and $0.60 for the second year. The concurrent private placement is subject to approval by the TSX Venture Exchange. Please see news releases dated September 19, 2008, October 7, 2008 and January 7, 2009 regarding its proposed Qualifying Transaction between Herdron and Pacemaker Silver Mining S.A. de C.V. ("Pacemaker").

The Corporation continues to work towards completing its Qualifying Transaction. A technical report on Pacemaker's mineral concessions located in north-eastern Sonora, Mexico has been prepared and will be compliant with NI 43-101. The Corporation anticipates that it will file the technical report and a filing statement on SEDAR at www.sedar.com once the Corporation has satisfied the requirements of the TSX Venture Exchange for a qualifying transaction and the TSX Venture Exchange has completed its review of those documents.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. 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 press release.

Contact Information

  • Herdron Capital Corp.
    Stuart Ross, President,
    Chief Executive Officer and Chief Financial Officer
    (780) 977-7187
    CHF Investor Relations
    Alison Tullis
    Senior Account Manager
    (416) 868-1079 x233