Helio Resource Corp. (TSX-V:HRC) has entered into a bought deal brokered private placement with Primary Capital Inc. to sell six million units for gross proceeds of $5.1 million.
Each unit will include one common share and one half of one common share purchase warrant. Whole warrants allow the holder to buy one common share for $1.10 for up to a year after the closing of the private placement, and $1.25 for the year after that.
The Vancouver-based exploration company has 27 prospective gold, base metal and diamond licences in Namibia, Botswana, Mozambique and Tanzania.
Helio's share price range during the week: between $0.81 and $0.89; 52-week high: $1.28; 52-week low: $0.52.