Helio Resource Corp. (CVE:HRC) reports private placements for $10 million.
The press release is quoted as saying:
The Company also entered into, concurrently with the Offering, a non-brokered private placement of up to $2,000,000 in units having the same terms as the Units, to investors in the United States (which concurrent offering will not involve the Agents). A finder’s fee consisting of 7% of the gross proceeds raised under the non-brokered private placement plus finder’s warrants (the “Finder’s Warrants”) equal to 7% of the number of units sold under the non-brokered private placement will be paid. The Finder’s Warrants will be exercisable into units of the Company on the same terms as the Units to be issued under the Offering. Closing is expected to take place on or before February 15, 2011.