HRC Helio Resource Corp

TSX-V Trading Symbol: HRC                        

VANCOUVER, Feb. 29, 2016 /CNW/ - Helio Resource Corp (TSX-V: HRC), ("Helio" or the "Company") is pleased to report that CE Mining II Helio Limited has exercised 7,362,850 share purchase warrants for proceeds to the Company of $368,142.50. 

CE Mining Limited, a "Control Person" of the Company under applicable securities legislation, transferred a total of 13,860,000 warrants to CE Mining II Helio Limited in August 2015. CE Mining Limited and CE Mining II Helio Limited are related parties as defined by securities legislation. CE Mining II Helio Limited now owns 13,860,000 common shares of the Company or 5.8 % of the issued and outstanding common shares of the Company. CE Mining Limited's total security position in the Company remains at 66,140,000 common shares, or 27.8% of the issued and outstanding common shares of the Company on a non-diluted basis. On a combined basis, CE Mining Limited and CE Mining II Helio Limited together own 80 million shares of the Company, or 33.6% of the issued and outstanding common shares of the Company. 

All of the warrants held by CE Mining Limited and CE Mining II Helio Limited have now been exercised. Helio has 20,050,000 share purchase warrants priced at $0.05 per common share, as well as 1,188,000 share purchase warrants priced at $0.10 per common share which remain outstanding. These remaining share purchase warrants expire on June 13, 2016.

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, and outlining the resource potential at the DGP Gold Project in Namibia.

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.

SOURCE Helio Resource Corp.