Mr. Dennis McKnight reports
HI HO SILVER ANNOUNCES RECEIPT OF FUNDING TRANCHE AND NEGOTIATIONS TO OBTAIN CONTROLLING INTEREST IN A GOLD COMPANY
Hi Ho Silver Resources Inc. has completed a first tranche of the previously announced (Aug. 9, 2013) $5-million convertible redeemable Series A preferred shares offering for gross proceeds to the company of $300,000.
The proceeds of this first tranche will be used for operating expenses, including planning for the bulk-sampling program on the Fairview gold property at Oliver, B.C., Canada (see company news release dated May 27, 2013). Permitting for this bulk sampling is completed subject to the posting of a reclamation bond.
Additionally, the company is negotiating to obtain a controlling interest in a company that holds several gold properties in Latin America. The target company is in the process of refining its recovery procedures and enhancing throughput on its continuing gold operations. Further details will be provided as available.
We seek Safe Harbor.
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