Hi-View arranges private placement, debt settlement

Executive Summary

• Hi-View Resources Inc. announced a non-brokered private placement of up to 5 million units at $0.20 per unit, raising up to $1 million in gross proceeds.
• The company also settled $146,161.60 of debt owed to related parties by issuing 730,808 common shares at $0.20 per share.
• Proceeds are designated for general corporate purposes and arm's-length payables, with all new securities subject to a statutory hold period of four months and one day.

Key Details

• Private Placement Structure: Up to 5,000,000 units offered at $0.20 per unit.
• Gross Proceeds: Up to $1,000,000.
• Unit Composition: Each unit consists of one common share and one-half of one transferable common share purchase warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one additional share at an exercise price of $0.30 per share.
• Warrant Expiry: 24 months from the date of issuance.
• Debt Settlement: Issuance of 730,808 common shares at $0.20 per share to settle $146,161.60 of debt due to related parties.
• Use of Proceeds: General corporate purposes, including arm's-length payables.
• Regulatory Conditions: A finder's fee may be applicable in accordance with Canadian Securities Exchange regulations.
• Hold Period: All securities issued under the private placement and shares-for-debt settlement are subject to a statutory hold period of four months and one day.