|By Marketwired .||
|August 8, 2013 05:34 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/08/13 -- Hudson River Minerals Ltd. ("Hudson River" or the "Company") (TSX VENTURE:HRM) announces the filing of the Company's December 31, 2012 audited financial statements, the first quarter ending March 31, 2013 and the second quarter ending June 30, 2013 financial statements. With the filing of these statements, the Company will be making an application to the securities regulators in British Columbia, Alberta and Ontario to have the current Cease Trade Order revoked. The Company is also seeking approval for the re-instatement of trading of the Company's shares on the TSXV Venture Exchange.
Hudson River would also like to announce the appointment of Andrew Lindzon to the Board of Directors subject to final TSX Venture approval.
The Company further announces that upon the revocation of the current Cease Trade Orders and reinstatement of trading on the TSXV, it intends to complete a proposed non-brokered private placement offering of up to 75,000,000 units (each a "Unit") at $0.005 per Unit for gross proceeds of up to $375,000 (the "Offering"). Each Unit will be comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share at an exercise price of $0.05 per share during the first year following the date of closing of the Offering, or at a price of $0.10 from the second through to the end of the fifth year following the date of the closing of the Offering.
The proceeds of the offering will be used to settle Company debt and for general working capital purposes.
The securities issued pursuant to the Offering will all be subject to a four month regulatory hold period commencing from the date of closing. The Offering remains subject to TSX Venture Exchange acceptance of requisite regulatory filings.
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.
This document may contain forward-looking statements relating to Hudson River's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Hudson River's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Hudson River disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Hudson River Minerals Ltd.
Mr. Stephen Balch
President and CEO