Hi Ho Silver Resources to Issue Consulting Units
Vancouver, January 29, 2019 - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") announces that it will issue 900,000 units (each, a "Consulting Unit") at a price of $0.10 per Consulting Unit to certain directors, officers and service providers of the Company as payment for services rendered pursuant to their consulting agreements. Each Consulting Unit is comprised of one common share and one transferable common share purchase warrant to purchase one additional share at an exercise price of $0.30 per share for a period of two years from the date of issuance.
The Company also announced that it will be returning to treasury 4,000,000 common shares that were previously issued pursuant to an agreement respecting the Norbeau Property (see the Company's press release dated August 2, 2017 for details respecting this agreement). The other party to the agreement has not fulfilled its obligations thereunder, and therefore the Company is returning the 4,000,000 shares to treasury. Following the issuance of the shares forming part of the Consulting Units and the return to treasury of the 4,000,000 shares, the Company will have 55,172,804 shares issued and outstanding.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
C. 778-989-0770
Email: bill@hihoresources.com
Website: www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42534