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Huldra
Silver Inc. (TSX VENTURE:HDA - News; the
"Company" or "Huldra Silver")
is pleased to announce it has closed two private placements for total gross
proceeds of $1,910,480. The first non-brokered private placement was for
1,799,000 units at a price of $0.52 per unit, with each unit consisting of
one common share and one common share purchase warrant to purchase an
additional share at $0.75 until June 22, 2012, subject to a right of call of
the Company. The second non-brokered private placement was for 1,625,000
units priced at $0.60 per unit, with each unit consisting of one common share
and one common share purchase warrant to purchase an additional share at
$0.75 until December 22, 2012. Finder's fees consisting of the issuance of an
aggregate of 121,800 broker warrants, each having an exercise price of $0.75
per share and exercisable until June 22, 2012, and a cash payment of $68,136
were paid in connection with the financings.
The
company is pleased to have Sprott Asset Management
LP, on behalf of certain funds and managed accounts, participate in these
private placements for in excess of $1 million dollars.
The
proceeds will be used to advance exploration and development of Huldra's 100% owned Treasure Mountain Project and for
working capital purposes. For more information visit the Company's website at
www.huldrasilver.com.
SEQUOIA
PARTNERS
The
Company also wishes to announce that it has retained Sequoia Partners Inc. to
provide investor relations and consulting services to the Company. Sequoia
will receive a monthly retainer of $5,000 and the Company will also issue to
Sequoia an option to purchase 200,000 common shares pursuant to the Company's
stock option plan. The options and the contract with Sequoia are subject to
the approval of the TSX Venture Exchange.
Huldra
Silver is currently working on plans to put the Treasure Mountain Project,
located 3 hours east of Vancouver, BC, into development subject to permitting
and financing. The Company is also actively assessing other opportunities for
acquisition and development.
On
behalf of the Board of Directors
Ryan
Sharp, MBA, President, CEO & Director
Disclaimer
for Forward-Looking Information
Certain
statements in this release are forward-looking statements, which reflect the
expectations of management regarding the Company's overall business
development objectives and plans. Forward-looking statements consist of
statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future, and include
that the Company intends to put the Treasure Mountain Project into
development. Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ materially from
those contained in the statements. No assurance can be given that any of the
events anticipated by the forward-looking statements will occur or, if they
do occur, what benefits the Company will obtain from them. These
forward-looking statements reflect management's current views and are based
on certain expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause the Company's
actual results to differ materially from those expressed or implied by the
forward-looking statements, including: (1) a downturn in general economic
conditions in North America and internationally, (2) the inherent
uncertainties and speculative nature associated with silver exploration, (3)
a decreased demand for silver, (4) any number of events or causes which may
delay exploration and development of the Company's property interests, such
as environmental liabilities, weather, mechanical failures, safety concerns
and labour problems, (5) the risk that the Company
does not execute its business plan, (6) inability to finance operations and
growth, (7) inability to obtain all necessary permitting and financing, and
(8) other factors beyond the Company's control. These forward-looking
statements are made as of the date of this news release and the Company
assumes no obligation to update these forward-looking statements, or to
update the reasons why actual results differed from those projected in the
forward-looking statements, except in accordance with applicable securities
laws. Additional information about the Company and these and other
assumptions, risks and uncertainties is available in the Company's public
filings with Canadian securities regulators, available on SEDAR at www.sedar.com.
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 news release.
Contact:
Ryan Sharp
Huldra Silver Inc.
604-818-1486
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com
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