FOR IMMEDIATE RELEASE Trading Symbol: HUD
April 12, 2010
NR2010-05
HUDSON CLOSES $5,000,000 PRIVATE PLACEMENT
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” – TSX Venture Exchange “HUD”) has
closed its previously announced non-brokered private placement in the amount of $5,000,000.
A total of 6,250,000 Units (“Units”) were issued at a price of $0.80 per Unit. Each Unit is 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 entitles the holder thereof to purchase one additional Share (a “Warrant Share”) in the capital of the Company up to April 6, 2012 at an exercise price of $1.20 per Warrant Share. In certain events, the Company can accelerate the expiry date of the Warrants if the common shares trade above a weighted average of $2.00 for 20 days. Both the common shares issued as part of the Units and any common shares issued upon exercise of the Warrants are subject to a hold period, which expires on August 7, 2010 and, such common shares may not be traded until August 7, 2010, except as permitted by the Securities Act (British Columbia) and the Rules made thereunder and the TSX Venture Exchange. The Company paid $196,900 in fees in connection with this private placement.
ON BEHALF OF THE BOARD OF DIRECTORS
“James Tuer”
James Tuer, President
For further information:
James Tuer, President
Ph: 604-628-5002 or 604-688-3415 [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.