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| Home : Hunter Bay Minerals Announces Proposed $500,000 Financing |
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Jun 17
2013 |
Hunter Bay Minerals Announces Proposed $500,000 Financing |
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LONDON, UNITED KINGDOM--(Marketwired - June 17, 2013) - Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY)(OTCQX:HTBNF) is pleased to announce that its board of directors have approved a proposed private placement offering up to 10,000,000 units at a price of $0.05 per unit for gross proceeds of $500,000 (the "Offering") to Sumin Resources Limited ("Sumin"). Each unit will consist of one ordinary share ("Share") and one share purchase warrant ("Warrant"), with each Warrant entitling the holder to acquire one additional Share at a price of $0.10 per Share for a period of 18 months following the date of issue of the Warrants. Sumin previously had the option to acquire up to 18,750,000 units of Hunter Bay pursuant to the terms of a cooperation agreement between Hunter Bay and Sumin. The parties believe that the proposed terms more accurately reflect current market conditions for junior resource companies. |
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| Source:http://www.marketwire.com/mw/release.do?id=1802529&sourceType=3 |
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