FOR IMMEDIATE RELEASE TSX-V: HUD April 5, 2011 OTC: HUDRF NR2011-6
Not for distribution to U.S. news wire services or dissemination in the United States.
HUDSON CLOSES EQUITY FINANCING AND OVERALLOTMENT OPTION EXERCISED FOR TOTAL PROCEEDS OF $17.26 MILLION
Vancouver, BC – HUDSON RESOURCES INC. (the “Company”) – (TSX Venture Exchange “HUD”; OTCQX “HUDRF”) is pleased to announce that it has closed its previously announced offering of 15.8 million common shares at a price of Cdn$0.95 per share. In addition, the underwriters have exercised the full allotment of 2.37 million common shares resulting in total proceeds to the Company of Cdn$17,261,500, before commissions and fees.
Dahlman Rose & Company, LLC and GMP Securities L.P. acted as joint book-running managers for the Offering, with Stonecap Securities Inc. and Euro Pacific Canada Inc. acting as co-managers.
The Company intends to use the net proceeds from the offering to finance the advancement of its Sarfartoq rare earth project in Greenland, and for general corporate purposes.
After the completion of this offering, Hudson’s issued and outstanding securities are comprised of 80,186,766 common shares, 4,445,000 options and 3,102,500 warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state of the United States and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements.
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]
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding plans for the completion of a financing and the intended terms and use of proceeds thereof, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
Suite 1460 – 1066 West Hastings Street Tel: (604) 628-5002 Vancouver, B.C. V6E 3X1 Fax: (604) 688-3452