FOR IMMEDIATE RELEASE Trading Symbol: HUD
January 7, 2009
HUDSON ANNOUNCES PRIVATE PLACEMENT
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” – TSX Venture Exchange “HUD”) announces that it will be seeking approval from the TSX Venture Exchange to complete a non- brokered private placement of 5 Million units (“Units”) of the Company. The Units will be priced at $0.10 per Unit for total proceeds to the Company of $500,000. Each Unit will be comprised of one fully paid and non-assessable common share (a “Share”) in the capital of the Company and one-half of one transferable Common Share purchase warrant (a “Warrant”). Each whole Warrant shall entitle the holder thereof to purchase one additional Share (a “Warrant Share”) in the capital of the Company from the date of the issue until expiry 18 months after such date at an exercise price of $0.20 per Warrant Share. A finder’s fee will be paid to arm’s-length parties on this private placement.
The net proceeds of the private placement will be used for further exploration of the Company’s previously identified niobium-uranium-tantalum bearing Sarfartoq Carbonatite deposit, ongoing evaluation of the diamond bearing Garnet Lake kimberlite dike, and for general corporate purposes. While initially expected to be completed by the end of 2008, final diamond recovery work for the 2008 560 tonne bulk sample of the Garnet Lake project is still on-going at SRC’s facility in Saskatoon.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the U.S. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the U.S. or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
For further information:
James Tuer, President
Ph: 604-628-5002 or 604-688-3415 [email protected]
This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology, geological formations and structures. Actual results may differ materially from those anticipated in these statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.