HMZ Announces Closing Under Private Placement

(PressMethod) - HMZ Metals Inc. ("HMZ" or the "Company") (CNQ:HMZA) announced a third Closing of $15,000 under its non-brokered private placement of Convertible Debentures (the "Debentures"). The Company did not pay a finders fee or issue Finder's warrants to purchase common shares in connection with the above. HMZ has now raised a total of $231,500 and anticipates additional closings up to the balance of the $350,000 private placement on or before June 6, 2008.
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The Debentures are non-interest bearing and are convertible into Units on a dollar for dollar basis. Each Unit is priced at $0.05 and consists of one common share and one-half common share purchase warrant. Each full warrant is exercisable at $0.10 for the first twelve months from Closing and at $0.20 for the second twelve months from Closing. A finder's fee consisting of a cash payment equal to 8% of the cash raised under the Debentures and that number of warrants to purchase common shares at $0.05 for a term of two years, that is equal to 10% of the number of Units issuable on conversion of the Debentures is payable as applicable. Conversion of the Debentures will occur subsequent to and therefore not be subject to a 5:1 share consolidation which share consolidation is subject to shareholder and regulatory approval. Proceeds from the Debentures will be used to fund working capital requirements.



Contact:
Kerry Smith
HMZ Metals Inc.
(416) 214-3270 ext 222
(416) 214-3276 (FAX)
Website: www.hmzmetals.com

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