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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., May 28, 2009: Stephen G. Stanley, the President of
Hathor Exploration Limited (HAT: TSX-V, the "Company"), is
pleased to announce that it has entered into an agreement with a syndicate
of underwriters led by Salman Partners Inc. ("Salman Partners")
and including Canaccord Capital Corp.., Cormark Securities Inc., Dundee
Securities Corp., Raymond James Ltd. and Research Capital Corp. pursuant to
which the syndicate has agreed to purchase 3,333,500 flow-through common
shares (the "FT Shares") of the Company on a bought deal private
placement basis at a price of $2.40 per FT Share for gross proceeds of
$8,000,400 (the "Offering"). The Underwriters shall be entitled
to a cash commission equal to 5.5% of the gross proceeds of the Offering. In
addition, the Company shall grant the Underwriters warrants (the
"Underwriters' Warrants") in the amount that is equal to 5.5% of
the number of FT Shares sold pursuant to the Offering. Each Underwriters'
Warrant shall be exercisable for one common share at a price of $3.00 per
common share, for a period of two years following the Closing Date.
The Underwriters shall also have the option, exercisable prior to the
closing of the Offering, to purchase up to an additional 833,500 FT Shares at
the issue price under the Offering for additional gross proceeds of up to
$2,000,400. The Offering is scheduled to close on or about June 16, 2009
and is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the TSX
Venture Exchange. In accordance with securities legislation currently in
effect, the FT Shares and Underwriters' Warrants will be subject to a
"hold period" of four months plus one day from the date of
closing..
The proceeds of the Offering will be used to fund further exploration of
the Company's Midwest Northeast uranium property, Saskatchewan, and other exploration
properties. The securities described herein have not been registered under
the U.S. Securities Act of 1933, as amended (the "Act"), and may
not be offered or sold in the United States unless registered under the Act
or unless an exemption from registration is available..
Hathor Exploration Limited
Stephen G. Stanley, Director
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
the content of this news release.
This news release does not constitute
an offer to sell or a solicitation of an offer to sell any of the
securities in the United
States. The securities have not been and
will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws
and may not be offered or sold within the United States unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
You can also view this News Release on our website at:
http://www.hathor.ca/s/NewsReleases.asp?ReportID=350457
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