By Devika Patel
Knoxville, Tenn., May 20 - Hana Mining Ltd. said it settled a C$24.15 million private placement of stock. The deal priced for C$21 million with a C$3.15 million greenshoe on April 29.
The company sold 11.5 million ordinary shares at C$2.10 apiece on a bought-deal private placement basis. Of the shares, 1.5 million were part of the fully exercised greenshoe.
The deal was conducted by a syndicate of underwriters co-led by Cormark Securities Inc., Raymond James Ltd. and Canaccord Financial Ltd., and including Macquarie Capital Markets Canada Ltd., Dundee Securities Corp. and Salman Partners Inc.
Proceeds will be used for exploration and scoping studies of the Botswana copper projects and general working capital purposes.
Hana is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Hana Mining Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | C$24.15 million (including C$3.15 million greenshoe)
|
| Shares: | 11.5 million
|
| Price: | C$2.10
|
| Warrants: | No
|
| Agents: | Cormark Securities Inc., Raymond James Ltd. and Canaccord Financial Ltd. (co-leads), Macquarie Capital Markets Canada Ltd., Dundee Securities Corp. and Salman Partners Inc.
|
| Pricing date: | April 29
|
| Settlement date: | May 20
|
| Stock symbol: | TSX Venture: HMG
|
| Stock price: | C$2.25 at close April 29
|
| Market capitalization: | C$90 million
|
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