VAL-D'OR, QC, Nov 20 - Hinterland Metals Inc. (TSXV:HMI) has arranged a non-brokered private placement (the “Offering”) for gross proceeds of up to $600,000 through the sale of up to 1,944,444 flow through common shares (“FT Shares”) at a price of $0.18 per FT Share and up to 1,666,666 units (“Units”) at a price of $0.15 per Unit. Each Unit will consist of one non-flow through common share of Hinterland and one share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to purchase one non-flow through common share of Hinterland at a price of $0.25 per share if exercised on or before 12 months from closing and for an additional 12 months thereafter at a price of $0.35 per share.
The FT Shares and Units are being offered pursuant to exemptions from the prospectus and registration requirements of applicable securities laws, subject to the receipt of necessary regulatory approvals. No offering memorandum or other offering document will be furnished to subscribers of the Units. The closing is expected to occur before November 30, 2007. All securities issued pursuant to the Offering shall be subject to a hold period of four months and one day from closing.
An agent’s commission will be paid in cash equal to 7.5% and in non-transferable warrants (“Agent’s Warrants”) equal to 10% of the gross proceeds received by Hinterland from the sale of the FT shares or Units by eligible agents. For the FT shares sold, each Agent’s Warrant will entitle the holder thereof to acquire one common share of Hinterland $0.18 per share on or before 12 months from closing. For the units sold, each Agent’s Warrant will entitle the holder thereof to acquire one common share of Hinterland $0.15 per share on or before 12 months from closing.
The proceeds from the Offering will be used by Hinterland to advance its exploration projects in Canada and for general working capital.
Investors are invited to visit the Hinterland IR Hub at www.agoracom.com/IR/Hinterland where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to HMI@agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.
For more information please contact:
Mark Fekete, President at Toll Free 1-877-874-8182
E-mail: info@hinterlandmetals.com
Website: www.hinterlandmetals.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This release contains forward-looking statements reflecting the Company’s objectives, estimates and expectations for its projects. These statements are identified by the use of verbs such as "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology. By their very nature, these types of statements involve risk and uncertainty. Consequently, results could differ materially from the Company’s projections or expectations.
