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| Home : Updated: Hunter Bay Minerals Completes $500,000 Financing with Sumin |
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Jun 26
2013 |
Updated: Hunter Bay Minerals Completes $500,000 Financing with Sumin |
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LONDON, UNITED KINGDOM--(Marketwired - June 26, 2013) - Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY) (OTCQX:HTBNF) is pleased to announce that it has closed its private placement financing by issuing to Sumin Resources Limited ("Sumin") 10,000,000 units at a price of $0.05 per unit for gross proceeds of $500,000. Each unit consists 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 until December 21, 2014. As a result of the foregoing, Sumin now holds, on an undiluted basis, 16,430,000 ordinary shares of Hunter Bay and, on a diluted basis, 32,860,000 ordinary shares of Hunter Bay and became a "control person" of Hunter Bay. Hunter Bay's shareholders, by written consent resolution, approved Sumin as a new "control person" on March 15, 2013. |
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| Source:http://www.marketwire.com/mw/release.do?id=1806198&sourceType=3 |
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