LONDON, England, Sept. 20, 2019 /CNW/ - As required by National Instrument 62-103 of the Canadian Securities Administrators, CE Mining Limited ("CE Mining") announces that on September 19, 2019, it acquired 833,333 Units of Helio Resource Corp. (the "Company") at a price of $0.06 per Unit as part of a private placement of an aggregate of 15,000,000 Units completed by the Company on that date (the "Private Placement"). Each Unit consisted of one common share of the Company (a "Common Share") and one-half of one warrant to purchase a Common Share (a "Warrant"). Each full Warrant entitles the holder thereof to purchase one Common Share at a price of $0.10 per share for a period of 12 months.
Concurrently with the Private Placement, the Company also completed (i) an acquisition of two mining projects located in Peru for consideration that included the issuance of 5,000,000 Common Shares on closing and (ii) the settlement of certain debts of the company through the issuance of 1,5000,000 Common Shares (such transactions, together with the Private Placement, being the "Transaction"). Upon completion of the Transaction, based on the Company's public disclosure, there were a total of 32,449,318 Common Shares outstanding. Further information on the Transaction is set out in the Company's press release of September 19, 2019.
Prior to the Transaction, CE Mining and its joint actors had ownership or control over 3,584,000 Common Shares, representing approximately 32.73% of the 10,949,318 Common Shares that were outstanding prior to the Transaction together with warrants to purchase an additional 48,000 Common Shares.
After giving effect to the Transaction, CE Mining and its joint actors had ownership or control over 4,417,333 Common Shares, representing approximately 13.61% of the Common Shares outstanding, together with 416,667 Warrants and warrants to purchase an additional 48,000 Common Shares.
CE Mining and its joint actors hold securities of Helio for investment purposes. CE Mining and its joint actors may, from time to time, on an individual or joint basis, directly or indirectly, acquire ownership of or control over additional securities of Helio or dispose of securities of Helio..
The head office of Helio is located at:
580-625 Howe Street
CE Mining's address is:
La Route des Camps
St. Martin, Guernsey GYI
SOURCE CE Mining Limited
For further information: or to obtain a copy of the early warning report, please contact: Michael Partridge, Goodmans LLP, 416-979-2211