/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, 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
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
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 Limited.
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 Corporation.
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
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
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.
SOURCE: Helio Resource Corp.
For further information:
please contact Richard Williams at +1 604 638 8005 or by e-mail to email@example.com