FOR IMMEDIATE RELEASE TSX-V: HUD June 6, 2011 OTC: HUDRF NR2011-09
HUDSON RETAINS BRISCO CAPITAL TO PROVIDE INVESTOR RELATION SERVICES
Vancouver, BC – HUDSON RESOURCES INC. (the “Company”) – (TSX Venture Exchange “HUD”; OTCQX “HUDRF”) is pleased to announce that it has retained the services of Brisco Capital Partners Corp. (“Brisco”) to provide investor relations services, subject to regulatory approval. Brisco will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and its activities. Brisco takes a full service approach to investor relations and provides creative, effective results-driven investor relations programs for Canadian public companies.
Scott Koyich, President, Brisco Capital, commented, “We are excited to be a part of the Hudson team. We at Brisco are very bullish on the long-term prospects of strategic metals and look forward to communicating management’s strategy and execution to the investment community. Hudson is an undervalued rare earth company that has a very strategic deposit in Greenland and is positioned well to serve the European community.”
James Tuer, President and Chief Executive Officer of Hudson, commented, “We believe that our Sarfartoq project represents one of the highest quality, most undervalued, rare earth projects on the TSX Venture Exchange. Accordingly, we are looking forward to working with Brisco to actively engage the investment community, in order that our company and its inherent value might be best communicated and fully appreciated.”
The agreement is effective immediately, and may be terminated by either party at any time. Brisco will be paid a monthly fee of $6,000, and will be granted 200,000 stock options with an exercise price of $1.04. The stock options will vest equally and quarterly over the first 12 months after issuance. The stock options expire at the earlier of 30 days after termination of the agreement, or five years from the date of issuance.
Hudson has produced an initial NI 43-101 resource estimate for the Company’s ST1 Zone, which defined 14.1M tonnes averaging 1.51% total rare earth oxides (TREO) using a cutoff of 0.8%. The ST1 Zone contains one of the industry’s highest ratios of neodymium and praseodymium to TREO, at 25%. Currently, the ST1 inferred resource contains over 40 million kilograms of neodymium oxide, which is the key component in permanent magnets and the fastest growth sector of the rare earths industry. Neodymium oxide is currently quoted at over US$250/kg, FOB China, and at over US$130/kg, within China, according to www.metal-pages.com.
The Sarfartoq REE project is located within 20 km of tidewater and only 60 km from Greenland’s international airport. The project is owned 100% by Hudson. The Company is well financed with approximately $18 million in working capital.
Dr. Michael Druecker is a Qualified Person as defined by National Instrument 43-101 and reviewed the preparation of the scientific and technical information in this press release in respect of the Sarfartoq REE Project. Ronald G. Simpson, B.Sc., P.Geo., President of Geosim Services Inc., is an independent Qualified Person as defined by NI 43-101 and is responsible for the resource estimate on the ST1 Zone.
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]
Suite 1460 – 1066 West Hastings Street Vancouver, B.C. V6E 3X1
Tel: (604) 628-5002 Fax: (604) 688-3452
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.