International Finance Corporation

November 10, 2011 11:08 ET

IFC Announces Acquisition of Shares and Warrants of Helio Resource Corp.

WASHINGTON, DISTRICT OF COLUMBIA--(Marketwire - Nov. 10, 2011) - IFC, a member of the World Bank Group, is pleased to announce that on November 8, 2011, it agreed to acquire 5 million units ("Units") of Helio Resource Corp. ("Helio") pursuant to a private placement (the "Financing"). Each Unit is composed of one common share of Helio ("Common Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of 0.425 Canadian dollars per Common Share for a period of two years.

The issue price per unit is 0.34 Canadian dollars for a total purchase price of 1.7 million Canadian dollars. It is expected that upon the closing of the Financing there will be 109,977,959 Common Shares outstanding. Immediately upon the closing of the Financing, it is expected that IFC will directly hold 15 percent of the company's outstanding share capital and approximately 21 percent of the company's outstanding share capital assuming the exercise of all of the Warrants held by IFC, including the Warrants previously issued to IFC by Helio pursuant to a private placement that closed on February 9, 2010.

The Financing is subject to customary conditions precedent and is expected to close on or about November 23, 2011. IFC is acquiring the Units for investment purposes. IFC may, in the future, take such actions in respect of its holdings as IFC deems appropriate in light of the circumstances then existing.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. IFC creates opportunity for people to escape poverty and improve their lives. IFC does so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, IFC's new investments climbed to a record $18 billion in fiscal 2010. For more information, visit

International Finance Corporation, 2121 Pennsylvania Avenue N.W., Washington D.C. 20433

Contact Information

  • For further information, including to obtain a copy of the
    report filed with the Canadian securities regulatory
    authorities in respect of which this news release relates,
    please contact: In Washington, D.C.: Josef Skoldeberg
    (202) 473-6978