Helio Resource Corporation Announces Exercise of Warrants
05.11.2015 | CNW
VANCOUVER, Nov. 5, 2015 /CNW/ - Helio Resource Corp. (TSX-V: HRC), ("Helio" or the "Company") is pleased to report that CE Mining II Helio Limited has exercised 6,497,150 share purchase warrants for proceeds to the Company of $324,857.50. CE Mining Limited, a "Control Person" of the Company under applicable securities legislation, transferred a total of 13,860,000 warrants to CE Mining II Helio Limited in August 2015. CE Mining Limited and CE Mining II Helio Limited are related parties based on common directors or officers. CE Mining II Helio Limited now owns 6,497,150 common shares of the Company and 7,362,850 common share warrants exercisable at $0.05 per share. CE Mining Limited's total security position in the Company remains at 66,140,000 common shares, or 28.67% of the issued and outstanding common shares of the Company on a non-diluted basis (this figure includes the common shares issued on this warrant exercise). On a partially diluted basis, assuming the exercise of all of their warrants, CE Mining Limited and CE Mining II Helio Limited would together own a total of 80 million shares of the Company, or 33.67% of the issued and outstanding common shares of the Company.
As a result of the warrant exercise CE Mining II Helio Limited now owns 6,497,150 common shares of the Company and 7,362,850 common share warrants exercisable at $0.05 per share.
About Helio Resource Corp.
Helio Resource Corp. is a resource company focused on advancing the 100% owned SMP Gold Project in Tanzania to a production decision, and outlining the resource potential at the DGP Gold Project in Namibia.
For additional information please contact Richard Williams at 604 638 8005.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
"Chris MacKenzie"
Christopher J. MacKenzie, C.Geol.
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.
SOURCE Helio Resource Corp.
Contact
Phone: +1 604 638 8005
E-mail: info@helioresource.com
Website: www.helioresource.com