By Laura Lutz
Des Moines, July 30 - Hana Mining Ltd. arranged a private placement of units for up to C$2,012,500.
The company plans to sell up to 5.75 million units at C$0.35 each.
The units each consist of one share and one half-share transferable warrant. Each whole warrant will be exercisable at C$0.75 for 18 months.
Expiry of the warrants may be accelerated to 30 days if the daily volume-weighted average trading price of the company's shares is above C$1.00 for 20 consecutive days.
The placement will be non-brokered.
Proceeds will be used for exploration.
Hana is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Hana Mining Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,012,500
|
| Units: | 5.75 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | July 30
|
| Stock symbol: | TSX Venture: HMG
|
| Stock price: | C$0.35 at close July 30
|
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