Huldra Silver Announces Closing of Flow-Through Offering
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES.
TSX-.V: HDA
NEWS RELEASE
HULDRA SILVER ANNOUNCES CLOSING OF FLOW-THROUGH OFFERING
VANCOUVER, B.C. December 12, 2012 – Huldra Silver Inc. (“Huldra” or the “Company”) is pleased to announce that it has completed a private placement of 2,000,000 common shares (each, a “Flow- Through Share”), issued on a flow-through basis, at a price of $1.55 per share for gross proceeds of $3,100,000 (the ”Offering”).
In connection with the Offering, finder’s fees were paid to certain finders consisting of cash commissions equal to 6.0% of the gross proceeds raised under the Offering and the issuance of that number of nontransferable broker warrants (the “Broker Warrants”) equal to 6.0% of the number of Flow-Through Shares sold under the Offering. Each Broker Warrant will be exercisable into one common share of the Company, issued on a non-flow-through basis, at a price of $1.55 per share for a period of 12 months from the closing of the Offering.
The aggregate gross proceeds from the sale of the Offering will be used for the 2013Treasure Mountain resource exploration program as mentioned in a press release issued on November 23, 2012. The gross proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses for purposes of the Income Tax Act (Canada) and an amount equal to such gross proceeds will be renounced in favour of the holders of Flow-Through Shares with an effective date of no later than December 31, 2012.
All securities issued in connection with the Offering are subject to a hold period of four months and one day under Canadian securities laws. None of such securities have been or will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or pursuant to an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
About Huldra
Huldra is currently mining at its Treasure Mountain Project, located three hours east of Vancouver, BC, utilizing an offsite mill for processing mill feed at the Company’s property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors
“Ryan Sharp”
Ryan Sharp, MBA President, CEO & Director
For additional information contact:
Ryan Sharp at 604-647-0142 [email protected] [email protected]
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.
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events related to the Company’s proposed exploration plans and its plans to incur and renounce eligible Canadian Exploration Expenses. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the Company’s ability to finance its planned exploration and development; the Company’s ability to source the necessary infrastructure to effect its exploration plans; current economic conditions and the state of mineral exploration, and mineral prices in general. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no assurance that its exploration and development plans will be completed in the time expected or at all. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
Su i te 610 – 837 We s t Ha s ti n gs Stre e t • Va n cou ve r, BC • V6C 3N6 • Te l : 604‐647‐0142 • Fa x: 604‐647‐0143