Liberty Lake, Washington, October 14, 2015 – Hunt Mining Corp. (the “Corporation”) (TSX VENTURE: “HMX”) announces it has closed its previously announced non-brokered private placement offering, previously announced on October 5, 2015.
The private placement resulted in aggregate gross proceeds of $500,000, all of which was received from a related party. The private placement consisted of the issuance of 25,000,000 units at $0.02 per unit, with each unit consisting of one common share and one common share purchase warrant. Each whole share purchase warrant shall entitle the holder to purchase one common share at a price of $0.05, exercisable for a period of 5 years, expiring on October 13, 2020.
All securities issued under the private placement are subject to a four-month and one day hold period from the date of closing, the hold expiring February 14, 2016. Final acceptance from the TSX-V is expected shortly.
In connection with the closing of the private placement, and in accordance with the regulatory requirements,
Tim Hunt/Hunt Family Limited Partnership, a company which is majority owned and controlled by Mr. Tim Hunt, President and Chief Executive Officer of the Corporation, has acquired 25,000,000 common shares of the Corporation, which, including prior ownership, represents approximately 82.70% of the outstanding common shares of the Corporation. Prior to the purchase, Tim Hunt/Hunt Family LP owned and controlled approximately 78.55% of the outstanding common shares of the Corporation.
About Hunt Mining
Hunt Mining Corp. has continued to develop its properties as an active and aggressive explorer in Santa Cruz since 2006. During that time, Hunt's wholly owned subsidiary, Cerro Cazador S.A., has completed exploration activity including approximately 64,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 20,000 surface soil, sediment, channel, chip, and trench samples, beyond the historical work previous to the same properties. This, and additional information can be viewed at www.huntmining.com.
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