Helio Resource Corp. Closes $1,700,000 Private Placement Financing Agreement with IFC

Helio Resource Corp. (TSXV:HRC) announced that it has closed the Private Placement Financing previously announced on November 9, 2011, for gross proceeds to the Company of $1,700,000.

As quoted in the press release:

The Financing is for 5,000,000 Units, each Unit is comprised of one common share and one half of one common share purchase warrant. The purchase price for each Unit is $0.34. Each full share purchase warrant has an exercise price of $0.425 per share and is valid for a period of two years from the date of closing the Financing, expiring on November 22, 2013.

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