Hi Ho Silver Resources Inc. Announces Major Agreement for Worldwide Distribution of Canadian Kootenay Clay(R)(TM)
Vancouver, British Columbia--(Newsfile Corp. - March 15, 2018) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC: HHSRF) ("Hi Ho" or the "Company"), Stuttgart Symbol "H9") is pleased to announce that, further to its news releases dated February 2, 2018, the Company has entered into an agreement for the worldwide distribution of "Canadian Kootenay Clay™ with NHP Industries Inc. ("The Representative"). The Company has the exclusive rights to a claim containing "Canadian Kootenay Clay" of the highest quality from the Illite clay property located in the Kootenay region in British Columbia, Canada.
The Representative has the business networking and connections in The People's Republic of China, and the world, for marketing, distribution and sales of Canadian Kootenay Clay™ in processed and standardized raw concentrate materials as well as finished product form, to China and the world.
The consideration to be paid by the representative to the company for the granting of the exclusive rights under this agreement will be $1,000,000 (one million Canadian dollars).
The terms of the agreement will be ten (10) years with an option to renew for an additional ten (10) years.
The Representative, or its associate partners, is also committed to invest an additional $1,000,000 (one million Canadian dollars) in Hi Ho Silver Resources Inc. by way of a private placement subscription completed by March 31, 2018.
The initial order of 10,000 kgs, and subsequent orders, will be delivered to the Representative's Burnaby location at an agreed upon price as early as possible and The Company will warehouse a significant supply of product for future orders and winter mine closures.
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
CHAIRMAN & CEO
C. 778-989-0770
Email: bill@hihoresources.com
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.