August 25, 2016

Happy Creek Completes $1,191,560 Private Placement

August 25, 2016 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the “Company”) announces the completion of its non-brokered financing announced July 13, 2016 and August 23, 2016.

The Company has completed a non-brokered private placement with gross proceeds of $1,191,560 through the sale of 5,991,250 shares at a price of sixteen cents per share and 1,058,908 flow through shares at a price of twenty-two cents per share. The financing as announced July 13, 2016, was oversubscribed. The shares will be subject to resale restrictions until December 25, 2016.

The proceeds from the sale of flow-through shares will be used to conduct a qualified exploration expense in accordance with Canadian Income Tax provisions and together with proceeds of the sale of non flow-through shares, will be used to conduct primarily trenching and drilling on its Fox tungsten property, B.C. and for general working capital.

A finder’s fee to qualified agents is payable in connection with the financing totalling $45,480 in cash and 267,375 broker warrants. Each warrant is exercisable into one common share of the Company at a price of $0.16 for a period of two years.

In connection with the Offering, the Company issued 165,000 common shares to persons that are directors or senior officers of the Company. The Company has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”) are available for the issuance of the common shares to the related parties. The Company relied on Section 5.5(c) of MI 61-101 for an exemption from the formal valuation requirement on the basis that the transaction is a distribution of securities for cash, and Section 5.7(b) of MI 61-101 for an exemption from the minority approval requirement as the fair market value of the transaction is not more than $2,500,000. The Company did not file a material change report more than 21 days in advance of the closing of the Offering, which the Company deems reasonable and necessary in the circumstances as the closing date of the Offering had not been established at that time and the Company wished to complete the Offering in an expeditious manner.

On behalf of the Board of Directors,

“David E Blann”

David E Blann, P.Eng.
President, CEO

David Blann, President, CEO

Corporate Office:
Phone: 604.662.8310

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.

You can view the Next News item:September 6th, 2016, Happy Creek begins drilling at Fox tungsten

You can view the Previous News item:July 13th, 2016, Happy Creek Announces a Private Placement Financing

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