Hudson Closes First Tranche of Additional Debt Financing FOR Gross Proceeds of US$5 Million
FOR IMMEDIATE RELEASE May 24, 2019 TSX-V:HUD OTC: HUDRF NR2019-06
HUDSON CLOSES FIRST TRANCHE OF ADDITIONAL DEBT FINANCING FOR
GROSS PROCEEDS OF US$5 MILLION
Vancouver, BC – HUDSON RESOURCES INC. (“Hudson” or the “Company”) – TSX Venture
Exchange “HUD”; OTC “HUDRF”) is pleased to report that it has entered into definitive
agreements with its lender, Cordiant Capital Inc. and its affiliates (“Cordiant”), with re spect to
the loan increase and extension originally announced on March 29, 2019.
The agreements provide for an immediate US$5 million loan facility increase, which the Company
expects to receive on May 27, 2019. The additional funds are provided based on the same terms
as the existing facility and the definitive agreements extend the maturity of the total loan facility
from July 15, 2024 to July 15, 2025, with the first principal repayment also being deferred by one
year accordingly from January 15, 2020 to January 15, 2021. In connection with this loan facility
increase, the Company has issued 1,950,000 share purchase warrant s, each warrant entitling
Cordiant to purchase one additional share in the capital of the Company until May 2 3, 2024, at
an exercis e price of $0. 45 per share, and has cancelled the 450,000 share purchase warrants
issued to Cordiant in 2017 in connection with the existing facility. The securities issued, including
any shares issued upon exercise of the warrants, are subject to a 4 month hold period.
The definitive agreements also provide for a further US$3 million loan facility increase to be
disbursed upon the fulfillment of certain conditions. Upon the Company receiving this further
loan increase it will, at that time, issue an additional 900,000 warrants having the same terms as
the warrants described above.
The net proceeds of the debt financing will be used for ramping up production at the Company’s
White Mountain Anorthosite Project in Greenland , working capital and general corporate
purposes.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim K Cambon”
President and Director
For further information:
Ph: 604-628-5002 or 604-505-2157
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical
fact included in this news release, including, without limitation, statements regarding the use of proceeds from the financing, and
other future plans and objectives of the Company are forward -looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from
the Company’s plans or expectations include market prices, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-
looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable
securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.