Happy Creek Completes Final Tranche of Private Placement
Happy Creek
Completes
Final
Tranche of
Private Placement
January
25
, 2019
–
Vancouver, British Columbia
–
Happy Creek Minerals Ltd. (TSX
-
V:HPY, the “
Company
”)
is pleased to announce
the completion of the second
and final
tranche of its previously announced non
-
brokered financing
for
gross proceeds of
$72,450
through the sale of
483,000 common
shares at a price of
$0.15
per share.
Together with the first tranche of the non
-
brokered private placement closed on December
28,
2018,
the Company has raised
aggregate proceeds of $245,250 through the sale of a
total of 483,000 common shares at a price of $0.15 per share and 864,000 flow
-
through
shares at a price of $0.20 per flow
-
through share.
In connection with the
closing of t
he
second tranche
of the private placement
,
the Company
paid
a
finder’s fee
of $346.50
in cash and
issued
1,980
finder’s
warrants. Each
finder’s
warrant is exercisable into one common share of the Company at a price of $0.
30
for a
period of two years.
The net
proceeds
from the sale of flow
-
through shares
will be
used to conduct mineral
exploration work that qualifies as Flow Through Exploration
Expense under the
Income Tax
Act
(Canada), and
together with proceeds of the sale of non
-
flow through shares, will be
used
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
Comp
any’s Fox tungsten and Highland Valley copper propert
ies
.
The closing of the private placement is subject to approval of the TSX Venture Exchange.
The
securities issued in connection with the
second tranche
of the private placement
are
subject to
a four month
hold period
, which will
expir
e
on
May 24
, 2019
.
In connection with the
first tranche of the
non
-
brokered private placement, the Company
issued common shares to persons that are directors or senior offic
ers 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 the
issuance of the common shares to these 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
was
a distribution of securities for
cash, and Section 5.7
(1)
(b) of MI 61
-
101
for an exemption from the minority approval requirement as the fair market value of the
transaction
was
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 adequac
y or accuracy of this release.