/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED
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TSX-V Trading Symbol: HRC
Toll Free: +1 888 955 4728
VANCOUVER, April 22, 2013 /CNW/ - Helio Resource Corp. (TSX.V: HRC) ("Helio"
or the "Company") is pleased to announce a non-brokered private placement to
raise up to $1,750,000 comprising 25,000,000 units (the "Units") at a price of
$0.07 per Unit. Each Unit shall consist of one common share of the Company (a
"Common Share") and one common share purchase warrant of the Company (each
whole such common share purchase warrant, a "Warrant"). Each Warrant will
entitle the holder thereof to acquire one Common Share at any time until the
second anniversary of the issuance of the Warrant, at a price of $0.14.
CE Mining Limited ("CE Mining"), a Guernsey based company, will subscribe for
a minimum of 20,000,000 Units (for $1,400,000). The balance of the placement
(5,000,000 Units) will be placed by the Company. CE Mining has the right to
subscribe for any Units not placed by the Company. No fees or warrants shall
be issued in connection with this financing.
Assuming that CE Mining subscribes for no more than 20,000,000 Units it will
own 14.75% of the issued and outstanding share capital of the Company upon
closing of a fully subscribed placement. On a partially diluted basis, CE
Mining would own approximately 25.7% of the issued capital of the Company.
About CE Mining
CE Mining Ltd, a company jointly owned and managed by Plinian Capital Ltd
("Plinian") and Generation Asset Management, invests in exploration and
development mineral resource projects.
Plinian is an investor in and a leading operational manager of mineral
discovery, development, production, and turnaround opportunities with
extensive operational expertise in gold, silver, copper, nickel, PGMs
(platinum group metals) and iron ore in the Americas, Australia and Africa.
Generation Asset Management (UK) Limited is an asset management, private
equity and corporate finance company.
CE Mining's three key principals have a combined experience base of more than
75 years in the mineral resource industry and include:
Mr. Bradford A. Mills has over 30 years experience in the natural resources
industry, having served on the boards of companies including: Lonmin, BHP
Billiton, Rio Algom, Magma Copper, and Echo Bay among others, in a wide
variety of capacities including strategy and corporate transformation,
operational management, ore body development and worldwide exploration. Mr.
Mills is also the founder and Managing Director of Plinian and is a director
of its portfolio companies, including Mandalay Resources Limited (TSX MND),
Nimini Holdings Ltd and West African Minerals Corporation (LON:WAFM).
Dr. Mark Sanders holds a PhD in Ore Deposits and Exploration from Stanford
University (USA), has been active in the mineral resource industry for the
last 25 years in operations, and is also a principal of CE Mining, and
Plinian. Dr. Sanders acts as the Chief Operating Officer of Mandalay Resources
Mr. Anton Mauve has over 20 years of experience in the resource industry, and
was a former Vice President Strategy and Long Term Planning with Lonmin plc.
Mr Mauve currently is a director of Plinian and West African Minerals
The private placement is scheduled to close on or about May 3, 2013.
Use of Proceeds
The proceeds from the private placement will be used for the advancement of
the resource at Helio's 238km² SMP Gold Project in the Lupa Goldfields of
South West Tanzania, and for general corporate working capital purposes.
All securities issued in connection with the private placement will be subject
to a four-month hold period during which those securities cannot be traded.
Completion of the private placement is subject to a number of conditions
including completion of satisfactory due diligence investigations and receipt
of all necessary regulatory approvals.
These securities being offered have not been, and will not be, registered
under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") and may not be offered or sold in the United States or to, or
for the benefit of, U.S. persons (as defined in Regulation S under the U.S.
Securities Act) absent U.S. registration or an applicable exemption from the
U.S. registration requirements. This release does not constitute an offer for
sale of securities in the United States.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
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.
Certain statements contained in this news release may contain forward-looking
information within the meaning of Canadian securities laws. Such
forward-looking information is identified by words such as "estimates",
"intends", "expects", "believes", "may", "will" and include, without
limitation, statements regarding the company's plan of business operations
(including plans for progressing assets), estimates regarding mineral
resources, projections regarding mineralization and projected expenditures.
There can be no assurance that such statements will prove to be accurate;
actual results and future events could differ materially from such statements.
Factors that could cause actual results to differ materially include, among
others, metal prices, risks inherent in the mining industry, financing risks,
labour risks, uncertainty of mineral resource estimates, equipment and supply
risks, title disputes, regulatory risks and environmental concerns. Most of
these factors are outside the control of the company. Investors are cautioned
not to put undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the company
expressly disclaims any intent or obligation to update publicly
forward-looking information, whether as a result of new information, future
events or otherwise.
please contact Richard Williams at +1 604 638 8005 or by e-mail
SOURCE: Helio Resource Corp.
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-0- Apr/22/2013 16:00 GMT
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