/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES./
TSX-V Trading Symbol: HRC
Toll Free: +1 888 955 4728
VANCOUVER, May 16, 2013 /CNW/ - Helio Resource Corp. (TSXV: HRC) ("Helio" or the "Company") is pleased to announce the
successful completion of the $1.75 million non-brokered private
placement announced on April 22, 2013. The first tranche of funds
($1,400,000) was received and announced on May 9, 2013. The balance of
the financing ($350,000 / 5,000,000 Units) has now been received and
the securities have been issued.
In total, Helio has issued 25,000,000 Units of the Company in this
Private Placement. Each Unit consists of one common share of the
Company (a "Common Share") and one common share purchase warrant of the
Company (a "Warrant"). Each Warrant entitles the holder to acquire one
Common Share at a price of $0.14 for a period of two years from
closing. All securities issued in connection with this private
placement are subject to a four-month plus one day hold period. The
hold period for the securities issued in this final tranche will expire
on September 16, 2013 and the warrants will expire on May 15, 2015.
As a result of this closing, the Company has 135,602,959 shares issued
No commissions have been or shall be paid in connection with this
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
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
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
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.
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.
SOURCE: Helio Resource Corp.
For further information:
For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to firstname.lastname@example.org or email@example.com.