/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)
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