Helio Increases Private Placement Financing to $900,000

VANCOUVER, British Columbia, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Helio Resource Corp (“Helio” or the “Company”; TSX-V: HRC) is pleased to announce that, pursuant to the news release dated May 15, 2019, it has increased the previously announced non-brokered private placement financing to $900,000. Proceeds from the financing will be used to cover the first phase of exploration work on the Gaban Gold Property in Peru and to cover initial working capital. 

Completion of the Private Placement financing is subject to TSX Venture Exchange approval of the transaction, including acceptance of a NI 43-101 Technical Report for the Gaban Gold Property, Peru, which has been submitted for review. The Company’s shares will remain halted until TSX approval has been received.

Private Placement Terms

The financing will consist of up to 15,000,000 Units priced at 6c per Unit, whereby each Unit is comprised of one (1) common share of the Company and one half (1/2) warrant, whereby one full warrant entitles the holder to purchase one common share of the Company for 10c per common share at any time within 12 months of closing the financing. All shares issued will be subject to a 4 month plus one day hold period from the date of issuance.

Enquiries:

Helio Resource Corp.

Richard Williams (CEO)  +1 604 210 8753

ON BEHALF OF THE BOARD OF DIRECTORS

“Richard D. Williams”
Richard D. Williams, P.Geo

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.

Statements Regarding Forward-Looking Information

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as “anticipated”, "estimates", "intends", "expected", "believes", "may", "will", “wants to” and include, without limitation, statements regarding the Company's plan of business operations (including plans for progressing assets). There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.