Hodgins Auctioneers Closes Financing

MELFORT, SK, June 20, 2012 /CNW/ - Hodgins Auctioneers Inc. (HA:TSX.V) (the "Company") wishes to announce that, subject to final TSX Venture Exchange acceptance, the Company has closed a private placement of 5,100,000 units at a price of $0.10 per unit for gross proceeds of $510,000.  Each unit consists of one common share and one common shares purchase warrant, with each warrant being exercisable into one common share for 24 months at an exercise price of $0.15 for the first 12 months and $0.25 during the subsequent 12 months.

The units were sold to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation and are subject to a 4 month restricted period.  The proceeds will be used for general corporate and working capital purposes.  A director of the Company subscribed for 750,000 units.

Headquartered in Melfort, Saskatchewan for more than fifty years Hodgins Auctioneers Inc. is a provider of professional auction services.  Hodgins is renowned for its experienced auctioneers, award winning promotions, dependable results and commitment to providing the ultimate marketplace for the sale of assets by auction.

SOURCE Hodgins Auctioneers Inc.

For further information:

Grant Hodgins, CEO
Hodgins Auctioneers Inc.
Phone Toll Free 1 800-667-2075
Fax: 306-752-5702
Email: grant@hodginsauctioneers.com
Website: www.hodginsauctioneers.com

Profil de l'entreprise

Hodgins Auctioneers Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.