Hinterland Metals Inc.
TSX VENTURE : HMI

Hinterland Metals Inc.

September 07, 2016 16:05 ET

Hinterland Closes Second and Final Tranche of Private Placement

VAL D'OR, QUEBEC--(Marketwired - Sept. 7, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Hinterland Metals Inc. (TSX VENTURE:HMI) ("Hinterland" or the "Company") is pleased to announce the closing of the second and final tranche of a non-brokered private placement offering (the "Offering") of 920,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of $46,000. Each Unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.10 until September 7, 2018. No finder's fees were paid in connection with the second tranche of the Offering. The securities issued under the second tranche of the Offering are subject to a four month hold period ending January 8, 2017.

In total, under the Offering, the Company issued 8,670,000 units in two tranches for gross proceeds of $433,500 (see press release dated August 17, 2016 for first closing). The proceeds of the Offering will be used by Hinterland to advance its exploration projects within Quebec and for general working capital. The Offering is subject to final approval from the TSX Venture Exchange.

Certain insiders of the Company participated in the second tranche of the Offering and subscribed for an aggregate of 820,000 Units representing an aggregate amount of $41,000. Participation of insiders of the Company in the Offering constitutes a "related party transaction" as defined under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("Regulation 61-101"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders exceeds 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time.

Neither 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: 41,769,614

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