VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 10, 2017) - HUDSON RESOURCES INC. (the "Company") (TSX VENTURE:HUD)(OTCQX:HUDRF) is pleased to announce that it has closed its previously announced investment by Greenland Venture A/S of 8,000,000 units ("Units") of the Company, at a price of $0.50 per Unit, for total proceeds of $4,000,000. 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 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 March 30, 2020, at an exercise price of $0.70 per Warrant Share. No fees were paid in connection with this placement.
Both the Shares issued as part of the Units and any Shares issued upon exercise of the Warrants are subject to a hold period, which expires on July 31, 2017 and, such common shares may not be traded until July 31, 2017, except as permitted by the Securities Act (British Columbia) and the Rules made thereunder and the TSX Venture Exchange.
On completion of this offering, Hudson's issued and outstanding securities will be comprised of 134,604,873 common shares, 9,410,000 options and 26,559,053 warrants.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
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.