Hudson Resources Announces That the European Investment Bank Approves Debt Financing of the White Mountain Project
Suite 1460 – 1066 West Hastings Street Tel: (604) 628-5002
Vancouver, B.C. V6E 3X1 Fax: (604) 688-3452
FOR IMMEDIATE RELEASE TSX-V: HUD
February 7, 2017 OTC: HUDRF
NR2016-03
HUDSON RESOURCES ANNOUNCES THAT THE EUROPEAN INVESTMENT BANK
APPROVES DEBT FINANCING OF THE WHITE MOUNTAIN PROJECT
Vancouver, BC - HUDSON RESOURCES INC. (the “Company”) – (TSX Venture Exchange “HUD”; OTCQX
“HUDRF”) is pleased to announce that the Management Committee of the European Investment Bank (“EIB”) has
granted preliminary approval to provide debt financing of up to US$13M (CDN$17.3M) for Hudson’s White
Mountain Anorthosite Project in Greenland through its 100% owned Greenland subsidiary, Hudson Greenland
A/S.
Furthermore, Cordiant Capital Inc., headquartered in Montreal, has approved lending Hudson Greenland A/S up
to US$9.5M (CDN$12.7M), subject to meeting loan documentation conditions. The complete terms and conditions
of both loans remain confidential at this time.
Total project capital costs, including reclamation costs and working capital are estimated at CDN$40M. Hudson is
in the process of hiring an independent technical advisor that the lenders will use to confirm capital costs and
monitor the construction program. Hudson is also required to complete legal documentation in accordance with
the terms of the preliminary approval and raise the balance of the project costs prior to drawdown. The balance of
the project capital, estimated at CDN$10M, will be injected by Hudson as equity capital into its subsidiary. To
date, Hudson has provided approximately CDN$2M in construction capital to the project in 2016.
On February 2, 2017, Hudson announced that it had closed a private placement of 26.6 Million units (“Units”)
priced at $0.35 per Unit for total proceeds to the Company of CDN$9.3 million. The Company plans to complete a
second closing in the near future for the balance of the over allotment of up to an additional 4.9 million Units for
up to an additional CDN$1.7 million.
James Tuer, Hudson’s President, stated, “We are very pleased that the European Investment Bank and Cordiant
Capital are prepared to invest in our project. Their involvement represents a significant vote of confidence in our
plan to build and operate the mine in Greenland for the purpose of supplying calcium feldspar to the fiberglass,
paints and polymer and alumina industries. We look forward to a very active year with the goal of commissioning
the plant by the end of the year.”
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 use of proceeds from the
private placement, 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
Suite 1460 – 1066 West Hastings Street Tel: (604) 628-5002
Vancouver, B.C. V6E 3X1 Fax: (604) 688-3452
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.