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HBE Hornby Bay Mineral Exploration Ltd

0.06
0.00 (0.00%)
27 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hornby Bay Mineral Exploration Ltd TSXV:HBE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.06 0.04 0.06 0 00:00:00

Hornby Bay Completes $100,000 Unsecured Promissory Note Financing

20/03/2014 7:35pm

Marketwired Canada


Hornby Bay Mineral Exploration Ltd. (TSX VENTURE:HBE) ("Hornby Bay") is pleased
to announce that it has completed a best efforts non-brokered private placement
financing (the "Financing") of $100,000 principal amount of unsecured promissory
notes ("Notes"), as previously announced on March 14, 2014.


The Notes are due 18 months from the date hereof and bear interest at a rate of
9.0% per annum, payable monthly. The Notes are senior in rank to all other
indebtedness of Hornby Bay.


In addition, each lender has been issued 2,000 common shares of Hornby Bay
("Shares") for every $1,000 principal amount of Notes subscribed for in the
Financing, for an aggregate issuance of 200,000 Shares.


The securities issued pursuant to the Financing are subject to a statutory four
month hold period from the date hereof.


The proceeds of the Financing will be used for general working capital purposes.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this News Release. 


This News Release includes certain forward-looking statements which are based on
information currently available to management of Hornby Bay, and Hornby Bay
provides no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe Hornby
Bay's future plans, objectives or goals, including words to the effect that
Hornby Bay or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would", "will", or
"plan", and include statements made herein with respect to the use of proceeds
from the Financing. Since forward-looking statements address future events and
are based on assumptions relating to, among other things, the use of proceeds
from the Financing, by their very nature they involve inherent risks and
uncertainties, and thus actual results could differ materially from those
currently anticipated in such statements for many reasons such as: changes in
demand and prices for minerals; litigation and other judicial and regulatory
developments; and other matters discussed in this News Release. This list is not
exhaustive of the factors that may affect any of Hornby Bay's forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on Hornby Bay's forward-looking statements.
Hornby Bay does not undertake to update any forward-looking statement that may
be made from time to time by it or on its behalf, except in accordance with
applicable securities laws.


Shares Outstanding: 57,959,989

FOR FURTHER INFORMATION PLEASE CONTACT: 
Hornby Bay Mineral Exploration Ltd.
Maurice Colson
President and CEO
(416) 727-3966

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