Hodgins Auctioneers Inc. Updates Proposed Financing

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

CALGARY, March 5, 2012 /CNW/ - Further to its press release of January 17, 2012, Hodgins Auctioneers Inc.  (TSX.V: HA) (the "Company") wishes to announce that, subject to TSX Venture Exchange approval, the Company has elected to extend the outside date for completing the proposed $800,000 financing to April 19, 2012.  All other terms of the financing remain unchanged. 

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.

Barrie Jung, President & CEO
Hodgins Auctioneers Inc.
Phone Toll Free 1 800-667-2075
Fax: [phone]
Email: [email protected]
Website: www.hodginsauctioneers.com