Vancouver, BC, February 6, 2018 – Hi Ho Silver Resources Inc. (“Hi Ho” or the “Company”), CSE symbol “HHS”, OTC symbol “HHSRF”, Stuttgart Symbol “H9”) is pleased to announce that, further to its news release dated September 13, 2017 announcing a private placement of up to 10,000,000 units (“Units”) at a price of $0.10 per Unit (the “Private Placement”), the Company has increased the number of Units in the Private Placement from 10,000,000 Units to 20,000,000 Units at a price of $0.10 per Unit, to raise up to $2,000,000.00. Each Unit consists of one common share and one non-transferrable common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one common share at a price of $0.30 for one year following the date of closing of the Private Placement. The proceeds of the Private Placement will be used for general working capital.
The Company may pay cash finder’s fees in connection with the Private Placement.
The Company also announces that Michael Paul has resigned as a director of the Company. The Company wishes Michael the best in his future endeavours and confirms the Board of Directors now consists of William Jorgenson, Gary W. Jorgenson and Milan Gubash.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base-metal mineral deposits in North America and elsewhere.
On Behalf of the Board of Directors, William Jorgenson
President & CEO
For further information please contact: Website: www.hihoresources.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate’, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.