Hodgins Auctioneers Inc. Increases Size of Proposed Financing

/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES./

CALGARY, Jan. 17, 2012 /CNW/ - Hodgins Auctioneers Inc.  (HA:TSX.V) ("Hodgins" or the "Company") announced today that, in light of greater than anticipated demand for its proposed offering of units at a price of $0.10 per unit (the "Offering"), it has decided to increase the maximum Offering from $300,000 to $800,000 in aggregate gross proceeds.

All other terms of the Offering, as more particularly described in the Company's press release of January 4, 2012, remain unchanged.

Closing of the Offering is expected to take place on or prior to February 18, 2012 and is conditional upon, inter alia, receipt of shareholder and regulatory (including TSX Venture Exchange) approvals.

The proceeds of the Offering will be used for general corporate and working capital purposes.

About Hodgins Auctioneers Inc.

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.

FORWARD LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to the proposed Offering. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Offering, that the ultimate terms of the Offering will differ from those that currently are contemplated, and that the Offering will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The statements in this press release are made as of the date of this release. Hodgins undertakes no obligation to update forward looking information, other than as required by law.

SOURCE Hodgins Auctioneers Inc.

For further information:

Barrie Jung, President & CEO
Hodgins Auctioneers Inc.
Phone Toll Free 1 800-667-2075
Fax: 306-752-5702
Email: barrie@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.