March 17, 2010
Hellix Announces Private Placement Closed
HELLIX VENTURES INC. (HEL:TSX.V / HLLXF:OTC) -Vancouver, BC- Frank Underhill, President, announces that the private placement previously outlined on March 11/10 has now closed.
Terms of the non-brokered private placement include the issuance of 1,000,000 units at a price of $0.60 per unit, for total gross proceeds of $600,000. Each unit consists of one common share and one non-transferable common share purchase warrant exercisable at $0.70 for 24 months after the closing. One (1) warrant shall be required to exercise each one (1) common share at the exercise price. Proceeds will be used for work programs including exploration and development of the Athabasca property and general working capital.
HELLIX VENTURES (HEL - TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in North America. Hellix has no debt (other than short-term trade payables), and has positive cash flow from fossil fuel production in Western Canada. All transactions stated or referred to herein are expressly subject to TSX Venture Exchange approval as well as all other applicable regulatory body approvals.
ON BEHALF OF THE BOARD OF DIRECTORS
HELLIX VENTURES INC.
Neither 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. The forgoing is for informational purposes only, and is not to be construed as an offer to buy or sell securities in any jurisdiction. It may contain forward-looking statements. While the data compiled by management is from sources deemed to be reliable, actual future results may vary materially. Hellix Ventures Inc. does not assume the obligation to update any forward-looking statement and will not be responsible for any loss or damage arising from the use of this information.
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