FOR IMMEDIATE RELEASE Trading Symbol: HUD
December 16, 2009
HUDSON CONFIRMS $1.6M RAISED BY EXERCISE OF WARRANTS
NR2009-14
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” – TSX Venture Exchange “HUD”) is pleased to report that all of the holders of the Company’s common share purchase warrants, representing 5,305,000 warrants exercisable into common shares at $0.30 per share, have exercised their warrants. As a result, $1,591,500 has been added to Hudson’s treasury increasing working capital to $2.3M. With the exercise of the warrants, Hudson now has 54,461,266 common shares outstanding. As well, there are 3,551,833 options outstanding exercisable at an average price of $0.41 per share.
Hudson plans on using the funds to continue exploration on the company’s 100% owned Sarfartoq Rare Earth Element project in Greenland. Field programs are expected to commence in March/April and will include geophysical surveys, a minimum of 5,000 meters of drilling and metallurgical testwork.
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]
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.