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Hi Ho buys $200,000 (U.S.) of Ascot preferred shares

Oct 31, 2013

HI HO SILVER PURCHASES INITIAL TRANCHE OF PREFERRED SHARES IN ASCOT MINING PLC

Hi Ho Silver Resources Inc. has signed a preference share investment agreement with Ascot Mining PLC of London, England, and completed the first tranche of $200,000 (U.S.) of a $6-million (U.S.) convertible Series A preferred share offering in Ascot. The execution of the agreement and the purchase of the first tranche gives Hi Ho the right to purchase additional preferred shares of Ascot. When completed, the purchase will result in Hi Ho obtaining a controlling interest in Ascot, which holds several gold properties in Costa Rica. Ascot is in the process of refining its recovery procedures and enhancing throughput on its continuing gold operations. Further details will be provided as available.

http://www.hihoresources.com/