Helio Resource Corp

Published : June 13th, 2014

Helio (TSX-V:HRC) Completes First Tranche of Non-Brokered Private Placement for Proceeds of $2,955,000

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Keywords :   Gold | Tanzania |

Helio (TSX-V:HRC) Completes First Tranche of Non-Brokered Private Placement for Proceeds of $2,955,000

"NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES."

TSX-V Trading Symbol: HRC

VANCOUVER , June 13, 2014 /CNW/ - Helio Resource Corp. (HRC.V) ("Helio" or the "Company") is pleased to announce that, further to its news release of May 28, 2014 , it has closed the first tranche of its non-brokered private placement for proceeds of $2,955,000 . The Company has issued 59,100,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share (a "Common Share") and one half of one (1/2) common share purchase warrant (each full warrant being a "Warrant"). Each Warrant entitles the holder to acquire one Common Share for a period of two years expiring June 13, 2016 , at a price of $0.10 per share. Commissions of 6% in cash ($118,800) , and 6% in finders units (2,376,000 units) of the Company (on terms similar to the Units), were paid and issued on a portion of the first tranche of the financing. All securities issued are subject to a hold period of four months plus one day, expiring October 14, 2014 . The Company is still planning to raise an additional $1,050,000 in the second tranche of its financing to raise a total of $4,005,000 .

CE Mining Limited and Second Tranche of Financing

In the first tranche of the financing, CE Mining Limited ("CE Mining") subscribed for 19,000,000 Units for proceeds of $950,000 . CE Mining now owns, after completion of the first tranche of the financing, 39,000,000 shares or 19.79% of the issued and outstanding common shares of the Company on a non-diluted basis (30.23% on a partially diluted basis).  CE Mining also proposes to acquire an additional 21,000,000 Units of the Company for proceeds of $1,050,000 in the second tranche of the financing. It is expected that CE Mining will be the only placee in the second tranche. CE Mining would then become a "Control Person" under applicable securities legislation and, under the policies of the TSX Venture Exchange, the Company is required to first seek disinterested shareholder approval of an ordinary resolution of CE Mining's proposed investment. Such approval will be sought at a Special General Meeting of the shareholders of the Company set for July 25, 2014 (the "SGM"). CE Mining, as an interested party, would not be allowed to vote any shares that it may own or control in relation to this resolution. CE Mining will have certain limited rights to withdraw from any such financing up to the date of the SGM.

Use of Proceeds

The proceeds from the private placement will be used for the advancement of Helio's SMP Gold Project in the Lupa Goldfields of South West Tanzania , and for general corporate working capital purposes.

U.S. Restrictions and MI 61-101 Matters

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States . CE Mining was, prior to completion of this financing, an insider of the Company, and therefore, through its investment in the first tranche of the private placement, completed a "related party" transaction (as defined by Multilateral Instrument 61-101) with the Company.  The Company has filed its related material change report as required under MI 61-101 less than 21 days before the date of the closing of the first tranche of the financing, as several material matters were uncertain and not ascertainable until at, or close to, the closing of the first tranche of the financing. In the Company's opinion the shorter period for the filing of the material change report was unavoidable and reasonable and necessary in the circumstances.

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"           "Chris MacKenzie"
Richard D. Williams, P.Geo          Christopher J. MacKenzie, C.Geol.
CEO             COO

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.

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE Helio Resource Corp.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Tanzania | All
Gold and Silver Prices for these countries : Tanzania | All

Helio Resource Corp

EXPLORATION STAGE
CODE : HRC.V
ISIN : CA4232741096
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Helio is a silver and gold exploration company based in Canada.

Helio holds various exploration projects in Namibia.

Its main exploration properties are OTJITOMBO, OTJITOMBO SOUTH, TEVREDE NORTH, ETJO NORTH, ETJO SOUTH, OTJIMBOJO, WILHELMSTAL, KUNJAS, MAKURU, VREDELUS and DAMARA in Namibia and SAZA MAKONGOLOSI (SMP) in Tanzania.

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Annual reports of Helio Resource Corp
2008 Annual report
Financings of Helio Resource Corp
5/9/2013Announces Closing of First Tranche of Non-Brokered Private P...
4/22/2013Announces Private Placement for up to $1.75 Million
2/15/2011Closes Private Placements for $10.0 Million
1/28/2010enters into $6,210,000 Private Placement Financing Agreement...
6/17/2008Closes $5,100,000 Bought-Deal Brokered Private Placement
1/21/2008Closes $5,250,000 Private Placement
12/5/2007 to Raise $5,250,000 by Way of Private Placement
2/26/2007Closes $4,900,000 Private Placement
Nominations of Helio Resource Corp
8/15/2013Announces Appointment of Investor Relations Consultant
Project news of Helio Resource Corp
2/25/2013Owns a 100% Interest in the SMP Gold Project in Tanzania Aft...
9/13/2012Reports PEA of SMP Gold Project, Tanzania
5/28/2012Reports Exploration Update On The Dgp Gold Project, Namibia
5/11/2012again included in Haywood Securities' Quarterly Junior Explo...
6/15/2011Haywood Securities features Helio Resource Corp. in mining f...
3/9/2011Commences 20,000m Drill Programme on the SMP Gold Project, T...
2/28/2011(Damara)Drilling, Geochemical and Geophysical Surveys Commence on th...
3/2/2009Intersects Widest Zones of Mineralisation to date from Porcu...
1/26/2009(Saza Makongolosi (smp))Drills 46 m of 2.1 g/t Au at Porcupine Target, SMP Gold Proj...
1/26/2009(Saza Makongolosi (smp))(HRC:TSX-V) Reports Drill Results from Porcupine Target - SM...
9/3/2008(Saza Makongolosi (smp))Adds Two Drill Rigs to SMP Gold Project, Tanzania; JV Partne...
7/22/2008(Saza Makongolosi (smp))Reports 52.2m@3.3g/t Au from Porcupine Target - SMP Gold Pro...
7/2/2008(Saza Makongolosi (smp))Reports Further Drill Results from Kenge Target, SMP Gold Pr...
6/23/2008(Saza Makongolosi (smp))Reports 42.3m @ 4.0g/t Au from Porcupine Target, SMP Gold Pr...
4/30/2008(Saza Makongolosi (smp))Starts Drilling at the Porcupine Target, SMP Gold Project, T...
4/14/2008(Saza Makongolosi (smp))REPORTS FURTHER DRILL RESULTS FROM THE KENGE TARGET =?iso-88...
1/31/2008Reports Remainder of 2007 Drilling Results - SMP Gold Projec...
11/19/2007First Drill Hole from Porcupine Target on the SMP Gold Proje...
10/15/2007Drilling Intersects 32m @ 2.35g/t Au at SMP Gold Project Tan...
9/18/2007Intersects 19.4m @ 3g/t Au at SMP Gold Project in Tanzania
5/23/2007Intersects 6.9G/T Gold Over 21.95M At The Kenge Target On Th...
Corporate news of Helio Resource Corp
8/19/2016Helio Announces Shares for Debt Settlement
6/20/2016Shareholder Update
5/31/2016Helio and Damara Merge Namibian Interests into Osino Resourc...
11/5/2015Helio Announces Exercise of Warrants
11/5/2015Helio (TSX-V:HRC) Announces Exercise of Warrants
9/22/2015Helio Reports AGM Results
9/22/2015Helio (TSX-V:HRC) Reports AGM Results
7/8/2015Helio Announces Exercise of Warrants
7/8/2015Helio (TSX-V:HRC) Announces Exercise of Warrants
3/26/2015Helio Increases Gold Grade of and Confidence in Mineral Reso...
3/26/2015Helio (TSX-V:HRC) Increases Gold Grade of and Confidence in ...
3/25/2015Helio Technical Disclosure Review
3/13/2015Helio (TSX-V:HRC) Technical Disclosure Review
2/10/2015Helio (TSX-V:HRC) Reports Drill Results from the Konokono an...
1/29/2015Helio (TSX-V:HRC) Reports Multiple High Grade Intercepts fro...
12/11/2014Helio (TSX-V:HRC) Intersects High-Grade Gold Mineralisation ...
10/28/2014Damara Gold (TSX-V:DMR) and Helio (TSX-V:HRC) Discover Four ...
10/3/2014Helio (TSX-V:HRC) Grants Incentive Stock Options and Retains...
9/9/2014Helio (TSX-V:HRC) Announces $1.5 Million Drill Program at SM...
9/9/2014(TSX-V:HRC) Announces $1.5 Million Drill Program at SMP Gold...
8/29/2014Helio (TSX-V:HRC) Reports AGM Results
7/28/2014Helio Announces Result of Special General Meeting, Closing o...
6/13/2014Helio (TSX-V:HRC) Completes First Tranche of Non-Brokered Pr...
5/29/2014Helio (TSX-V:HRC) Announces $4,000,000 Non-Brokered Private ...
5/14/2014Three Additional Retention Licences Granted at the SMP Gold ...
5/14/2014Helio: Three Additional Retention Licences Granted at the SM...
4/11/2014Retention Licence Granted at the SMP Gold Project, Tanzania
4/11/2014Helio: Retention Licence Granted at the SMP Gold Project, Ta...
3/27/2014Helio and Solomon Sign a Letter of Intent on the Damara Gold...
3/27/2014Helio and Solomon Sign a Letter of Intent on the Damara Gold...
3/21/2014Helio Files NI 43-101 Resource Report on SEDAR
3/21/2014Helio Files NI 43-101 Resource Report on SEDAR
2/3/2014Reports Updated Higher-Grade Resource for the Kenge and Porc...
11/29/2013Confirms Extension of High-Grade Shoot at Kenge Resource Are...
10/18/2013Commences Drill Programme at Kenge Resource Area, SMP Gold P...
8/28/2013Announces Results of its Annual General Meeting
10/30/2012Files Preliminary Economic Assessment of the Porcupine and K...
10/5/2012Clarifies Information for Public Disclosure
5/10/2012Grants Incentive Stock Options
4/3/2012Files NI 43-101 Mineral Resource Report for SMP Gold Project...
2/14/2012Announces Updated Mineral Resource Estimate at SMP Gold Proj...
2/6/2012Reports Drill Results from DGP Gold Project, Namibia, includ...
1/23/2012(Damara)Reports Results from a Soil Sampling Survey at the Gold Kop ...
1/17/2012Latest Drill Results Discover Multiple Zones of Mineralisati...
1/13/2012Interview with Jay Taylor
1/10/2012Drill Results Confirm Mineralisation over 1.4km Strike Lengt...
12/7/2011Intersects 7.4m Grading 6.1g/t Au at the Quill Zone, SMP Gol...
11/28/2011(Damara)Reports Additional Diamond Drill Results from the Gold Kop T...
9/22/2011discovers new gold mineralization over 1km strike length at ...
9/15/2011Corporate Update Alert
8/24/2011(Damara)Reports First Rc Drill Results from the Gold Kop Target, Dam...
7/12/2011Discovers Multiple Zones of Gold Mineralisation at SMP Gold ...
6/13/2011(Damara)Makes a Significant New Gold-Copper-Silver Discovery at the ...
4/14/2011(Damara)Commences 5,000m Drill Programme on the Gold Kop Target, Dam...
3/22/2011(Damara)Discovers New Targets at the Damara Gold Project in Namibia
7/26/2010(HRC:TSX-V): Latest Drill Results Confirm Main Zone Extensio...
11/10/2008Reports Additional Excellent Drill Results from Porcupine Ta...
8/11/2008Reports Excellent Metallurgical Testwork Results from SMP Go...
8/2/2008Terminates Agreement with TransAfrican Minerals Ltd.
3/13/2008OPTIONS EIGHT NAMIBIAN LICENCES TO TRANSAFRICAN MINERALS
11/13/2007 21.53m grading 3.62g/t Au Included in Additional Drill Resu...
11/6/200716.75m grading 3.93g/t Au included in latest drill results f...
10/29/2007Discovers Another New Gold Zone at the SMP Gold Project in T...
10/23/2007Discovers New Gold Zone on the SMP Gold Project, Tanzania
9/24/2007Options 9 Namibian Licences to Desert Minerals (UK) Ltd.
9/14/2007Update on Namibia Exploration Activities
9/11/2007Report on AGM and Update on Tanzania Drilling Activities
6/5/2007June 1/Helio announces warrant triggering event
3/21/2007reports more well-mineralised drill intercepts at the SMP go...
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