Hunt Mining Corp. Issues 20,881,493 Common Shares Upon the Conversion of 20,881,493 Convertible Preferred Shares
SPOKANE, WASHINGTON -- (Marketwired) -- 04/09/13 -- Hunt Mining Corp. (the "Corporation") (TSX VENTURE: HMX) announces the issuance of 20,881,493 common shares (the "Common Shares") upon the conversion of 20,881,493 convertible preferred shares (the "Preferred Shares") of the Corporation (the "Conversion"). The Preferred Shares, which were issued to HuntMountain Resources Ltd. ("Resources") and its wholly-owned subsidiary, HuntMountain Investments, LLC ("Investments") pursuant to the Corporation's Qualifying Transaction completed on December 23, 2009, were convertible into common shares of the Corporation for no additional consideration provided that the Corporation met the public distribution requirements of the TSX Venture Exchange (the "Exchange"). HuntMountain is controlled by the Corporation's Chairman, Mr. Tim Hunt. The Exchange approved the Conversion on April 5, 2013.
Prior to the Conversion, there were 100,613,330 common shares issued and outstanding. As a result of the Conversion, there are 121,494,823 common shares issued and outstanding.
After giving effect to the Conversion, Resources now holds 47,499,999 common shares and Investments now holds 2,500,001 Common Shares. The Common Shares held by Resources and Investments, when combined with the Common Shares currently held, 188,200, and Common Shares issuable upon exercise of the 1,000,000 options (having an expiry date of December 23, 2014 and January 18, 2015 and an exercise price of $0.30 and $0.65 per share) held by Mr. Tim Hunt, represent 42.1% of the Corporation's issued and outstanding common shares on a partially diluted basis. Over time, Resources, Investments or Mr. Hunt may acquire additional securities of the Corporation, dispose of some or all of the existing or additional securities they held or will hold, or continue to hold their current position.
About Hunt Mining
Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. During that time, Hunt's wholly owned subsidiary, Cerro Cazador S.A., has completed a large amount of exploration activity including approximately 57,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 15,000 surface channel, chip, and trench samples. Hunt Mining has recently entered into an exploration agreement with Eldorado Gold for exploration and development in the Santa Cruz Province of Argentina. Historical results and additional information can be viewed at www.huntmining.com.
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Hunt Mining Corp.
Matthew J. Hughes
President and CEO
(509) 290-5659
mhughes@huntmining.com
Hunt Mining Corp.
Matthew A. Fowler
CFO
(206) 601-1219
mfowler@huntmining.com
www.huntmining.com
