Hunter Bay Minerals Completes Debt Settlement Transaction
18.12.2012 | Newsfile
London, United Kingdom -- (Newsfile Corp. - December 17, 2012) - Hunter Bay Minerals plc (“Hunter Bay”) (TSX-V: HBY) (OTCQX: HTBNF) announces that it has completed the shares for debt transaction previously announced on December 10, 2012. In accordance with the terms of the debt settlement agreement, Hunter Bay issued 1,200,000 ordinary shares at a deemed price of $0.15 per share to extinguish $180,000 of debt. The shares issued by Hunter Bay pursuant to this transaction are subject to a four month hold period expiring on April 18, 2013.The securities described herein 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 accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of Hunter Bay's securities in the United States.
About Hunter Bay
Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in South America and Canada. Hunter Bay’s lead project is the Sela Creek Project, located in Suriname, which Hunter Bay has an option to acquire up to an eight percent (80%) interest. Hunter Bay also owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake NWT.
For additional information please contact:
Hunter Bay Minerals plc
Bridge House, London Bridge
London, England SE1 9QR
Christopher Wilson, CEO and President
Phone: (+44) 207-127-9125
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.