VANCOUVER, CANADA, April 5, 2013 - Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CNSX: HHS) is pleased to announce the closing of a non-brokered private placement (the "Private Placement") that raised gross proceeds of $98,500 through the sale of 1,970,000 flow-through units ("FT Units") at a price of $0.05 per FT Unit. Each FT Unit is comprised of one common share of Hi Ho to be issued on a "flow-through" basis under the Income Tax Act (Canada) and one flow-through common share purchase warrant (each a "FT Warrant"). Each FT Warrant will be exercisable to acquire one additional common share of Hi Ho to be issued on a "flow-through" basis under the Income Tax Act (Canada) at any time for a two year period following issuance, at an exercise price of $0.10 per share.
The proceeds of the Private Placement will be used for exploration of Hi Ho's Canadian mineral properties. All securities issued in the Private Placement will be subject to a four-month hold period to August 5, 2013, pursuant to applicable securities laws.
Hi Ho Silver Resources Inc. is a Canadian exploration company dedicated to the exploration of precious metal deposits across Canada. For further information on the Company and its projects, please visit our website at www.hihoresources.com or contact our President and CEO, Mr. Dennis McKnight.
On Behalf of the Board of Directors
President , Chief Executive Officer and Director
Hi Ho Silver Resources Inc.
Email: [email protected]
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document. Company information can be viewed here: www.CNSX.ca Note: Further information regarding the Company can be found on SEDAR at www.SEDAR.com