HM Exploration arranges $1-million private placement

Executive Summary

• HM Exploration Corp. announced a non‑brokered private placement of up to 9,090,909 units at C$0.11 per unit, targeting gross proceeds of up to $1 million.
• Each unit consists of one common share and half of a transferable warrant; the warrants are exercisable for an additional share at C$0.16 for three years after closing.
• Proceeds will be used to fund exploration on existing properties (Devil’s Den and Pilley’s Island) and for general working capital.

Key Details

• Units Offered: Up to 9,090,909 units.
• Purchase Price: C$0.11 per unit.
• Gross Proceeds Target: Up to $1 million CAD.
• Unit Composition: 1 common share + ½ transferable common share purchase warrant.
• Warrant Terms: Each warrant convertible into one additional common share; exercise price C$0.16; exercisable for three years from closing date.
• Use of Proceeds: Exploration activities on Devil’s Den (Vancouver Island) and Pilley’s Island (Newfoundland) projects; general working capital.
• Placement Structure: Non‑brokered, private placement to qualified investors under prospectus/registration exemptions.
• Finder Fees: Company may pay finder fees to eligible finders, subject to securities law compliance and CSE policies.
• Hold Period: Four months and one day on all securities issued in the placement.

Notable Quotes

(No direct quotes were provided in the release.)