Huldra Silver Inc.

Huldra Silver Inc.

February 22, 2013 08:00 ET

Huldra Silver Completes $10,000,000 Convertible Debenture Financing With Announcing of Close of Final Tranche

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2013) -


Huldra Silver Inc. (TSX VENTURE:HDA) ("Huldra" or the "Company") is pleased to announce that it has completed a second tranche of its previously announced private placement financing (the "Financing"), as described in its news releases dated January 29, 2013, February 6, 2013 and February 12, 2013, pursuant to which it has issued unsecured convertible debentures (each, a "Debenture") in the aggregate principal amount of $2,624,800. The Debentures have a maturity date of February 21, 2014 and bear interest at the rate of 16% per annum payable at maturity of the Debenture. Pursuant to the terms of the Debentures, and subject to adjustment, the subscribers may convert all or any part of the principal amount outstanding under the Debentures into common shares in the capital of the Company (each, a "Share") at a conversion price of $1.05 per Share and any accrued but unpaid interest thereon at the greater of $1.05 per Share and the Market Price (as defined in the policies of the TSX Venture Exchange) at the time of conversion. The closing of this second tranche brought the final total of the Financing, which closed in various tranches between February 8, 2013 and February 13, 2013, to aggregate gross proceeds of $10,003,800.

In connection with the closing of the second tranche of the Financing, the Company paid aggregate cash commissions of $20,800.

The proceeds from the sale of the Financing will be used for debt repayment and for general working capital purposes.

All securities issued in connection with the Financing will be subject to a statutory four month hold period. None of the securities sold in connection with the Financing will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news 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.

On behalf of the Board of Directors of HULDRA SILVER INC.

Ryan Sharp, MBA, President, CEO & Director

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.

Contact Information