Vancouver, British Columbia--(Newsfile Corp. - April 1, 2019) - Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) announced that it will extend the expiry dates of an aggregate of 13,490,000 common share purchase warrants by two years. The warrants, their exercise prices, their original expiry dates and their new expiry dates are as follows:
|Number of Warrants||Exercise Price||Original Expiry Date||New Expiry Date|
|500,000||$0.20||June 13, 2019||June 13, 2021|
|460,000||$0.30||July 28, 2019||July 28, 2021|
|390,000||$0.30||October 30, 2019||October 30, 2021|
|260,000||$0.30||January 24, 2020||January 24, 2022|
|3,420,000||$0.30||May 2, 2019||May 2, 2021|
|620,000||$0.30||May 1, 2020||May 1, 2022|
|5,960,000||$0.30||June 15, 2019||June 15, 2021|
|220,000||$0.30||August 31, 2019||August 31, 2021|
|760,000||$0.30||August 31, 2020||August 31, 2022|
|900,000||$0.30||January 29, 2021||January 29, 2023|
As a result of the fact that certain of the officers and directors of the Company are warrant holders, the extension of the warrants is considered a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The extension of the warrants is exempt from the requirements under MI 61-101 to obtain a formal valuation and minority shareholder approval pursuant to Sections 5.5(a) and 5.7(a) of MI 61-101. The Company has filed a material change report less than 21 days before the effective date of the extension of the warrants, which is reasonable in the circumstances given that the exercise price of the warrants being extended is well below the current market price of the Company's shares.
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 and other mineral opportunities in North America and elsewhere.
For further information contact:
William G. Jorgenson
Hi Ho Silver Resources Inc.
PO Box 21199
Maple Ridge Square
Maple Ridge, British Columbia
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.