Hudson Resources Inc.

Hudson Resources Inc.

August 12, 2016 16:17 ET

Hudson Closes Equity Financing for Total Proceeds of $1,620,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2016) -


HUDSON RESOURCES INC. (the "Company") (TSX VENTURE:HUD)(OTCQX:HUDRF) is pleased to announce that it has closed its previously announced offering for 4,050,000 units ("Units") of the Company, at a price of $0.40 per Unit, for total proceeds of $1,620,000. Each Unit is comprised of one fully paid and non-assessable common share (a "Share") in the capital of the Company and one-half of a transferable Common Share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional Share (a "Warrant Share") in the capital of the Company until August 10, 2019, at an exercise price of $0.60 per Warrant Share. The Company paid $75,000 in finders' fees in connection with this private placement.

Both the common shares issued as part of the Units and any common shares issued upon exercise of the Warrants are subject to a hold period, which expires on December 11, 2016 and, such common shares may not be traded until December 11, 2016, except as permitted by the Securities Act (British Columbia) and the Rules made thereunder and the TSX Venture Exchange.

The net proceeds of the private placement will be used for ongoing construction activities at the Company's White Mountain Anorthosite (calcium feldspar) Project and for general corporate purposes.

After the completion of this offering, Hudson's issued and outstanding securities are comprised of 94,338,366 common shares, 8,300,000 options and 6,425,800 warrants.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state of the United States and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements.


James Tuer, President

Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding the use of proceeds from the private placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

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