Hudson River Announces Non-Brokered Private Placement


TORONTO, Nov. 30, 2011 /CNW/ - Hudson River Minerals Ltd. ("Hudson River") (TSX-V:HRM) is pleased to announce its intention to complete a non-brokered private placement to raise aggregate gross proceeds of up to CDN$1.0 million (the "Offering").

The Offering will consist of up to an aggregate of 7,500,000 flow-through units (each a "Flow-Through Unit") at a price of $0.10 (Canadian) per Flow-Through Unit for aggregate gross proceeds of up to CDN$750,000 with each Flow-Through Unit being comprised of one common share to be issued as a "flow-through share" as defined in the Income Tax Act (Canada) and one-half of one non-flow-through non-transferrable common share purchase warrant (a "Warrant"). Each whole Warrant forming part of the Flow-Through Units will entitle the holder thereof to purchase one common share at a price of $0.20 (Canadian) for a period of 24 months from the closing date of the Offering (the "Closing Date").

The Offering will also consist of up to an aggregate of 3,571,429 hard units (the "Hard Units") at a price of $0.07 (Canadian) per Hard Unit for aggregate gross proceeds of up to CDN$250,000 with each Hard Unit being comprised of one common share and one-half of one non-transferrable common share purchase warrant. Each whole warrant forming part of the Hard Units will entitle the holder thereof to purchase one common share at a price of $0.15 (Canadian) for a period of 24 months from the Closing Date.

Finders used to source subscriptions will be paid a fee on closing (a "Finder's Fee") of 7% in cash and 7% payable as compensation options based on the aggregate number of Flow-Through Units and Hard Units sold pursuant to the Offering as a result of the direct efforts of the finder. Each compensation option will entitle the holder thereof to purchase one common share at a price of $0.15 (Canadian) for a period of 24 months from the Closing Date.  The compensation options will be non-transferable.

The proceeds will be used to advance Hudson River's exploration projects in Ontario, primarily the Forge Lake project, and for general corporate expenses.

About Hudson River Minerals Ltd.

Hudson River is focused on the discovery of precious metals and base metals in Ontario. The management team identifies underexplored areas that have historical intersections of economic minerals and has experience exploring in areas with little geologic outcrop and that rely heavily on geophysical technologies for discovery. For more details on Hudson River's properties go to or visit

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.

This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the planned financing and exploration projects of Hudson River. Hudson River has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the prices of gold and costs of exploration. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time.  A number of risk factors may cause the planned financing and the exploration projects to be materially different from those expressed or implied by such forward-looking statements including, without limitation, changes in general economic, market and business conditions, and those other risks set forth in Hudson River's public filings. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Hudson River.  Although Hudson River has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof. 

Hudson River disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.  The forward-looking statements contained herein are expressly qualified by this disclaimer.

SOURCE Hudson River Minerals Ltd.

For further information:

Hudson River Minerals Ltd. 
Stephen J. Balch, President and CEO
Tel: (905) 407-9586


Profil de l'entreprise

Hudson River Minerals Ltd.

Renseignements sur cet organisme


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

Commencez dès aujourd'hui .


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


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