Hudson Secures Short Term Bridge Loan
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 19, 2015) - HUDSON RESOURCES INC. (the "Company") (TSX VENTURE:HUD)(OTCQX:HUDRF) announces that it has obtained an unsecured bridge loan for approximately $1,200,000. Total proceeds of the loan are committed to the purchase of heavy equipment required for ongoing pre-construction activities at the Company's White Mountain anorthosite project. The equipment will also be used in the day-to-day mining operations once mining commences. Hudson proposes to repay the loan from the proceeds of the Company's recently announced non-brokered private placement. Timing issues required financing the equipment prior to the closing of the private placement. This will now allow Hudson to complete significant pre-development work in 2015 ahead of its proposed mine construction in the first half of 2016. The unsecured loan is for a term of up to three months bearing interest at 12% per annum.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology, geological formations and structures. Actual results may differ materially from those anticipated in these statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact
Hudson Resources Inc.
James Tuer
President
604-628-5002 or 604-688-3415
tuer@hudsonresources.ca