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Message: Hathor Exploration $6M/ Brokered Private Placement
| November 5, 2008 |
| Hathor Exploration Limited: $6,000,000 Brokered Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2008) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Stephen G. Stanley, the President of Hathor Exploration Limited (HAT: TSX-V) (the "Company"), announces that the Company has negotiated a brokered private placement for gross proceeds of up to $6,000,050 with a syndicate of brokers (the "Agents") led by Salman Partners Inc., wherein the Agents will use their best efforts to sell up to 1,935,500 flow-through common shares ("FT Shares") at $3.10 per FT Share in the capital stock of the Company. The Company has granted to the Agents an over-allotment option (the "Over-Allotment Option"), exercisable at any time prior to the closing, to increase the gross proceeds from the sale of FT Shares by up to an additional $2,002,600. The Agents will receive a cash commission on the sale of the FT Shares representing 5.5% of the gross proceeds. The Company will also issue share purchase warrants to the Agents on closing (the "Agents' Warrants") entitling the Agents to purchase additional common shares equal in number to 5.5% of the aggregate number of FT Shares sold, including the Over-Allotment Option. The Agents' Warrants will entitle the Agents to purchase common shares at the price of $3.10 per common share for a period of 24 months following the closing. In accordance with securities legislation currently in effect, the FT Shares will be subject to "hold period" of four months plus one day from the date of closing. The proceeds of the private placement transaction will be used to fund further exploration of the Company's Midwest Northeast uranium property, Saskatchewan, and other exploration properties. HATHOR EXPLORATION LIMITED Stephen G. Stanley, President |
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