HM Exploration arranges $600,000 private placement

Executive Summary

• HM Exploration Corp. announced a non‑brokered private placement of up to 3,333,334 units at C$0.18 per unit, targeting gross proceeds of approximately $600,000.
• Each unit consists of one common share and half of a transferable warrant; warrants are exercisable for an additional share at C$0.25 within three years.
• Proceeds will be allocated to exploration activities on existing properties and general working capital.

Key Details

• Units Offered: Up to 3,333,334 units.
• Purchase Price: C$0.18 per unit.
• Gross Proceeds Target: Approximately $600,000 (C$0.60 M).
• Unit Composition: 1 common share + ½ transferable common share purchase warrant.
• Warrant Terms: Each warrant convertible into one additional common share; exercisable for three years from closing at C$0.25 per share.
• Use of Proceeds: Funding exploration on the Devil’s Den and Pilley’s Island projects; general working capital.
• Placement Structure: Non‑brokered, offered to qualified investors under securities law exemptions.
• Finder Fees: Company may pay fees to eligible finders in compliance with applicable regulations and CSE policies.
• Holding Period: Four months and one day on all securities issued in the placement.

Notable Quotes

(No executive quotes were provided in the release.)