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.”
About Frontier Lithium Inc. HLM’s goal is to become a fully integrated lithium, rubidium and tantalum producer with development of the PAK Lithium Project in Ontario, Canada. Based on the PAK deposit’s high-purity, technical-grade spodumene, a relatively lower capital requirement to enter in to the lithium supply market is possible by firstly becoming a technical-grade lithium concentrate supplier. HLM is focused on a staged approach to indirectly participate in the burgeoning lithium battery industry by taking advantage of the disruptive change to market fundamentals by targeting the ceramic-glass industry (industrial users). Currently, the glass/ceramics segment is the second largest in total lithium demand whereby supply pressure is taking place due to the threat of lithium battery growth.
Company Contact Information Trevor R. Walker, President 2736 Belisle Drive Val Caron, ON. P3N 1B3 CANADA T.+001 705.897.7622 F.+001 705.897.7618
Forward-looking Statements 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 release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at https://www.sedar.com
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