First Tranche of $ 172,800 Private Placement
Happy Creek
Completes
First Tranche of
$
172,800
Private Placement
December 28, 2018
–
Vancouver, British Columbia
–
Happy Creek Minerals Ltd. (TSX
-
V:HPY, the “
Company
”)
is pleased to announce
that it has closed the first tranche
of
its
non
-
brokered financing announced
November 27, 2018
.
The Company has completed
the
sale of
864,000
flow
-
throu
gh shares at a price of $0.20
per
flow
-
through
share
for
gross
proceeds of
$
172,800
.
In connection with the offering,
the Company paid
finder’s fees
totalling
$
5,096
in cash and
issued
21,840
broker warrants. Each
broker
warrant is exercisable into one common share
of the Company at a price of $0.
30
for a period of two years.
The net
pro
ceeds of the private placement will be
used to conduct mineral exploration
work that qualifies as Flow Through Exploration
Expense under the
Income Tax Act
(Canada), and f
or
general working capital and additional exploration, engineering or
development work
contemplated by the Company.
E
xploration expenditures will be
primarily focussed on the
Company’s Fox tungsten and Highland Valley copper propert
ies
.
The
securities issued in connection with the offering are
subject to resale restriction
s
expiring on
April 29, 2019
.
In connection with the non
-
brokered private placement, the Company issued
325,000
common shares to persons that are directors or senior officers of the Company. The
Company has determined that exemptions from the various requirements of TSX Venture
Exchange Policy 5.9 and Multilateral Instrument 61
-
101 (“
MI 61
-
101
”) are available for t
he
issuance of the common shares to the
se
related parties. The Company relied on Section
5.5(c) of MI 61
-
101 for an exemption from the formal valuation requirement on the basis
that the transaction is a distribution of securities for cash, and Section 5.7(
b) of MI 61
-
101
for an exemption from the minority approval requirement as the fair market value of the
transaction is not more than $2,500,000.
On behalf of the Board of Directors,
“David E Blann”
____________________
David E Blann, P.Eng.
President,
CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Phone: 604.662.8310
Email:
Website:
www.happycreekminerals.com
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.