Hi-View Stakes Additional Toodoggone Ground and Closes Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) — Hi-View Resources Inc. (“Hi-View” or the “Company”’) (CSE: “HVW”; FSE:”B63” ) announces that it has staked an additional 1,681.7 hectares contiguous with its Golden Stranger and Lawyers Group projects. The newly acquired ground contains portions of the Toodoggone Volcanics Metsantan members of Jurassic age and early Jurassic intrusives as well the western sections contain the Sustut group of mid to upper cretaceous age geological formations. The Toodoggone Volcanics formation is the underlying geology of not only the Golden Stranger but large sections of Benchmark’s Lawyers Project and Thesis Gold’s Ranch property.
The Company now has a total of 10,821 hectares and will evaluate what if any historic work has taken place in the newly acquired claims.
The Company has now closed the non-brokered private placement financing of 750,000 units (the “Units”), at a price of $0.10 per Unit for gross proceeds of $75,000 and 200,000 flow-through units (the “FT Units”), at a price of $0.125 per FT Unit for gross proceeds of $25,000 (the “Offering”). The Units issued consist of one common share of the Company and one common share purchase warrant (“Warrant”). The Flow Through Units consist of one flow-through common share of the Company and one flow-through warrant (the “FT Warrant”).
The Warrants issued pursuant to the Offering entitle the holder to purchase one additional common share of the Company at a price of $0.125 per share on or before August 2, 2024. The FT Warrants entitle the holder to purchase one additional common share (the “FT Warrant Share”) at a price of $0.15 per share on or before August 2, 2024.
In the Offering, the Company paid cash finder’s fees of $2,500 to a qualified finder. Hi-View will use the net proceeds from the Offerings for exploration on the Golden Stranger and Lawyers Group properties, for marketing and for general corporate purposes. The securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day.
In addition, the Company has settled $28,750 of debt of its subsidiary, Zeal Exploration Inc. to 3 creditors through the issuance of 287,500 common shares of Hi-View at a deemed price of $0.10 per share (“Debt Settlement”). The Hi-View shares to be issued pursuant to the Debt Settlement are subject to a statutory hold period of four months plus one day.
The principal business is the acquisition, exploration and development of mineral resource properties. Its objective is to locate, define and ultimately develop economic mineral deposits. Zeal Exploration is a wholly-owned subsidiary which holds several claims together with options to acquire the Golden Stranger Property and the Lawyers West, East and North projects, all located in the Toodoggone region of British Columbia prospective for gold, silver, and copper. The collective holdings cover an approximate 10,821 hectares. Additionally, the Company holds an option on the Ket 28 Property located in south-central British Columbia in the Greenwood District. The Ket 28 Property covers an area of 3,432 hectares.
Hi-View Resources Inc.
Howard Milne, Chief Executive Officer
Email: [email protected] Telephone: (604) 377-8994
FORWARD LOOKING STATEMENTS:
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release includes statements related to the proposed Transaction and related matters. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.