Helio Resources: Two Private Placements, Totalling $5.25 Million

Helio Resources Corp. has announced two private placements, one brokered. The brokered PP, done on a syndicated basis, will sell up to 8 million units, at 35 cents each, for gross proceeds of $2.8 million. Each unit will contain one share and half a warrant. Each warrant will have a two-year life, and a different exercise price for year one and year two: 50 cents and sixty cents respectively. The non-brokered PP has 7 million units, also at 35 cents each, for gross proceeds of $2.45 million. These units are the same as the ones for the brokered PP. The news release has further details, including the fees paid for each deal, and notes that the proceeds are for the SMP gold project in Tanzania and general corporate purposes.

This item was released in mid-afternoon. Subsequently, Helio closed at 35 cents for a gain of 2.5 cents on the day. The trades took place late in the afternoon. Currently, the bid - ask is 34 cents - 37.5 cents.

The company's Google Finance web page is here.


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