VAL D'OR, QUEBEC--(Marketwired - May 27, 2014) - Hinterland Metals Inc. (TSX VENTURE:HMI) ("Hinterland" or the "Company") announces the closing of a non-brokered flow-through private placement offering (the "Flow-Through Offering"). In total, Hinterland issued 2,900,000 flow-through common shares at a price of $0.05 per share for proceeds of $145,000. An insider of Hinterland participated in the Flow-Through Offering for $10,000. Hinterland may raise up to $225,000 under the current Flow-Through Offering and additional insiders may subscribe to the Flow-Through Offering.
Hinterland also closed a non-brokered private placement offering (the "Offering") of 1,800,000 units (the "Units") at a price of $0.05 per unit for gross proceeds of $90,000. Each Unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to acquire one (1) additional common share of the Company at a price of $0.10 until May 27, 2016. Insiders of Hinterland participated in the Offering for a total of $45,000. Hinterland may raise up to $175,000 under the current Offering and additional insiders may subscribe to the Offering.
The securities sold under these private placements are subject to a four month hold period ending September 28, 2014. Hinterland paid total finder's fees of $12,600 in cash. The Offering and Flow-Through Offering are subject to final approval from the TSX Venture Exchange. The proceeds from the private placements will be used by Hinterland to advance its exploration projects within Quebec and New Brunswick, and for general working capital.
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.
Shares issued: 29,694,614