TSX-V Trading Symbol: HRC
VANCOUVER, May 14, 2018 /CNW/ - Helio Resource Corp.
("Helio" or the "Company"; TSX-V: HRC) reports that the Company has
entered into a debt settlement agreement (the "Agreement") with an
arm's length creditor (the "Creditor") of the Company to settle an
outstanding account for drilling services. Pursuant to the
Agreement, the Company will settle an outstanding debt of
approximately C$250,000 with the
Creditor through the issuance of 500,000 common shares and a cash
payment of C$25,000.
The issuance of the common shares to the Creditor is subject to
the approval of the TSX Venture Exchange. All securities issued
will be subject to a four month hold period which will expire on
the date that is four months and one day from the date of
issue.
About Helio Resource Corp.
Helio Resource Corp. is a resource company focused on advancing
the 100% owned SMP Gold Project in Tanzania to a production decision.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard
D. Williams, P.Geo, CEO & President
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.
Statements Regarding Forward-Looking Information
Certain statements contained in this news release may contain
forward-looking information within the meaning of Canadian
securities laws. Such forward-looking information is identified by
words such as "anticipated", "estimates", "intends", "expected",
"believes", "may", "will" and include, without limitation,
statements regarding the company's plan of business operations
(including plans for progressing assets), estimates regarding
mineral resources, projections regarding mineralization and
projected expenditures. There can be no assurance that such
statements will prove to be accurate; actual results and future
events could differ materially from such statements. Factors that
could cause actual results to differ materially include, among
others, metal prices, risks inherent in the mining industry,
financing risks, labour risks, uncertainty of mineral resource
estimates, equipment and supply risks, title disputes, regulatory
risks and environmental concerns. Most of these factors are outside
the control of the company. Investors are cautioned not to put
undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the
company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
SOURCE Helio Resource Corp.