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Vancouver, British Columbia--(Newsfile Corp. - February 16, 2021) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") announces that it has sold all of its right, title and interest in and to the Bralorne Gold Property pursuant to an agreement dated as of February 4, 2021 with Turnagain Resources Inc. and 1240089 B.C. Ltd., as purchasers. Under the agreement, the Company received $100,000, $72,000 in cash and $28,000 in debt forgiveness.
The Company also announced that it has completed a private placement financing under which has issued 449,998 units at a price of $0.06 per unit for gross proceeds of $27,000. Each unit will be comprised of one common share and one common share purchase warrant exercisable for an additional common share for two years at an exercise price of $0.15. The proceeds of the financing will be used for general working capital.