Hudson Resources Announces Completion of Arrangement FOR US$22.5 Million Debt Financing FOR the White Mountain Project
Suite 420 – 1639 2nd Ave. W. Tel: (604) 628-5002
Vancouver, B.C. V6J 1H3 Fax: (877) 413-0119
FOR IMMEDIATE RELEASE TSX-V: HUD
July 17, 2017 OTC: HUDRF
NR2017-11
HUDSON RESOURCES ANNOUNCES COMPLETION OF ARRANGEMENT FOR
US$22.5 MILLION DEBT FINANCING FOR THE WHITE MOUNTAIN PROJECT
Vancouver, BC - HUDSON RESOURCES INC. (the “Company”) – (TSX Venture Exchange “HUD”; OTC
“HUDRF”) is pleased to announce the completion of its debt funding arrangement for a Senior Loan of US$13.0
million and a Subordinated Loan of US$9.5 million, for a total of US$22.5M, in it’s 100% owned subsidiary,
Hudson Greenland A/S. At this time, both tranches have been committed to by Cordiant Capital Inc. (“Cordiant”).
Drawdown is expected to be available to Hudson Greenland shortly after confirmation that all conditions
precedent have been received by the lender. This arrangement has allowed Hudson to complete its funding
requirements and maintain its current construction schedule to have the White Mountain project in production in
2018.
As per the original agreement, it is anticipated that the European Investment Bank (“EIB”) will assume the senior
finance contract from Cordiant in the near future. Both loans have a term of seven years. Semi-annual principal
repayments start after the initial two-year period when only interest payments are required. The Senior Loan
carries an interest rate of $US six-month LIBOR plus 6.5%. The Subordinated Loan’s rate is $US six-month
LIBOR plus 9.5%. In addition to customary transaction fees, Hudson has agreed to grant Cordiant 450,000 non-
transferrable common share purchase warrants exercisable at a price of $0.55 per share for a period of 36
months from date of issuance, subject to the polices of the TSX Venture Exchange.
James Tuer, Hudson’s President, stated, “We are very pleased that we have been able to complete the debt
financing of our White Mountain project. It has been a lengthy process to structure the financing between the
various jurisdictions involved. In an effort to complete the financing this summer, we decided it was necessary to
engage only one lender initially. As such, Cordiant agreed to commit to the senior loan until the EIB assumes the
Senior Loan this fall.”
ON BEHALF OF THE BOARD OF DIRECTORS
“James Tuer”
James Tuer, President
For further information:
James Tuer, President
Ph: 604-628-5002 or 604-688-3415
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 drawdown of the loan and
the assumption of the senior finance contract by EIB, 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, and other risks detailed herein and from time to time in the filings made by the Company with secu rities
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.