VAL D'OR, QUEBEC-(Aug. 27, 2009) - Hinterland Metals Inc. (TSX VENTURE:HMI) has closed the first tranche of its non-brokered private placement announced on July 29, 2009 for gross proceeds of $150,930. The Company issued 1,547,000 units at a purchase price of $0.06 per unit for proceeds of $92,820, with each unit consisting of one non-flow-through common share and one warrant with each warrant entitling the holder thereof to purchase one non-flow-through common share at an exercise price of $0.10 per share for a 24 month period ending August 27, 2011. The Company also issued 968,000 flow-through shares at a price of $0.06 per flow-through share for proceeds of $58,110.
The securities sold under the private placement were issued pursuant to exemptions from the prospectus and registration requirements of applicable securities laws, subject to the receipt of necessary regulatory approvals and to a four month hold period ending December 28, 2009. The proceeds from the private placement will be used by Hinterland to advance its exploration projects within Canada and for general working capital. In accordance with the TSX Venture Exchange guidelines, finder's fees of $10,565 were paid in cash and 127,085 agent's warrants were issued, with each agent's warrant entitling the holder thereof to purchase one non-flow-through common share at an exercise price of $0.10 per share for a 24 month period ending August 27, 2011.
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 messages 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.
This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.
Shares Issued 53,800,901
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.
CONTACT INFORMATION:
Hinterland Metals Inc.
Mark Fekete
President
Toll Free: 1-877-874-8182
Email: info@hinterlandmetals.com
Website: www.hinterlandmetals.com
