HLM Announces Exercise of Warrants for Proceeds of $641,763
Sudbury, Ontario – April 7, 2015 – Houston Lake Mining Inc. (TSX.V: HLM), HLM (the “Company”), is pleased to announce that a total of 6,417,639 common share purchase warrants (the “Warrants”) have been exercised at a price of $.10 per common share, for aggregate proceeds to HLM of $641,763. HLM issued a total of 7,217,639 Warrants on April 09, 2013 in connection with an equity financing, in which the Warrants will expire on April 9, 2015. Including the common shares issued upon exercise of the Warrants, the Company has a total of 100,325,642 common shares issued and outstanding.
“The exercise of these Warrants represents a strong vote of confidence as 66% of the total Warrants (4,250,001) have been exercised by “non-arms’’ length individuals (primarily Board of Directors and Management) or companies controlled by “non-arms” length individuals to the Company, commented Trevor Walker, President of HLM. “The combination of this confidence and finance display HLM’s strong footing, essential to advance exploration and development of the PAK Lithium Project. With a Phase III, 1,600m in-fill drill program and proof of concept bulk sampling program currently underway, this is shaping up to be an exciting year for HLM.”