Hi Ho Silver arranges $1-million private placement

Aug 5, 2016

HI HO SILVER ANNOUNCES FLOW-THROUGH AND NON-FLOW-THROUGH PRIVATE PLACEMENT

Hi Ho Silver Resources Inc. has arranged a non-brokered private placement of up to 10 million non-flow-through units on a postconsolidation basis at a price of 10 cents per non-flow-through unit to raise up to $1-million. Each non-flow-through unit will consist of one non-flow-through common share of Hi Ho and one non-transferable share purchase warrant. Each non-flow-through warrant will entitle the holder to purchase one non-flow-through common share at a price of 30 cents for one year from the closing date. The private placement will also include up to 10 million flow-through units on a postconsolidation basis at a price of 15 cents per flow-through unit to raise up to $1.5-million. Each flow-through unit will consist of one flow-through common share and one non-transferable share purchase warrant. Each flow-through warrant will entitle the holder to purchase one flow-through common share at a price of 30 cents for one year from the closing date.

The proceeds of the private placement will be used for exploration of Hi Ho’s Canadian mineral properties and for general working capital.

The company may pay cash finder’s fees in connection with the private placement.