Hudson Closes Third Tranche of Additional Debt Financing FOR Gross Proceeds of US$3 Million
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FOR IMMEDIATE RELEASE TSX-V: HUD
August 16, 2019 OTC: HUDRF
NR2019-11
HUDSON CLOSES THIRD TRANCHE OF ADDITIONAL DEBT
FINANCING FOR GROSS PROCEEDS OF US$3 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 existing lender, Cordiant Capital Inc. and its
affiliates (“Cordiant”), and its new lender, Romeo Fund – Flexi and its affiliates
(“Romeo”) with respect to the US$3 million loan facility increase originally
announced on May 24, 2019.
Pursuant to the agreements, which provide for the assignment by Cordiant to Romeo
of Cordiant's commitments in respect of the third tranche, Romeo will fund the
US$3 million loan facility increase. The Company expects to receive t h e f u n d s on
August 19, 2019. The additional funds are provided based on the same terms as the
existing facility and the definitive agreements. In connection with this loan facility
increase, the Company has issued 900,000 share purchase warrants, each warrant
entitling Romeo to purchase one additional share in the capital of the Company
until May 23, 2024. The securities issued, including any shares issued upon exercise
of the warrants, are subject to a 4 month hold period.
The net proceeds of the debt financing will be used for operations at the Company’s
White Mountain Anorthosite Project in Greenland, including ramping up of
production, shipping, 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
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.
Suite 420 – 1639 2nd Ave W. Tel: (604) 628-5002
Vancouver, B.C. V6J 1H3 www.hudsonresourcesinc.com