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Helio Resource to buy Gaban and Tinka in Peru

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Christian Fernsby |
Helio Resource
Acquisition   This is an arm’s length transaction and no finders fee is payable

Helio Resource announced that, subject to TSX Venture Exchange (“TSXV”) approval, it has signed a Letter of Intent (LOI) with Palamina to acquire the Gaban gold project and the Tinka Iron Oxide Copper Gold project, both located in Peru.


In conjunction with the acquisition, Helio plans to raise between $600,000 and $800,000 through a non-brokered private placement financing to cover the first phase of exploration on the properties and to cover initial working capital (together, with the other matters referenced herein, the “Transaction”).

This is an arm’s length transaction and no finders fee is payable.

The proposed financing will consist of up to 10,000,000 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.


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