By Devika Patel
Knoxville, Tenn., Dec. 8 - Hana Mining Ltd. said it has cancelled plans for a C$1.5 million non-brokered private placement of units that priced in September and is replacing it with another C$1.5 million placement of units.
The company now plans to sell up to 30 million units at C$0.05 each.
The units each consist of one share and one warrant. Each warrant will be exercisable at C$0.10 for two years.
The company had planned to sell up to 10 million units at C$0.15 each, with each unit consisting of one share and one half-share warrant. Each whole warrant would have been exercisable at C$0.30 for 18 months.
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 warrant
|
| Amount: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 8
|
| Stock symbol: | TSX Venture: HMG
|
| Stock price: | C$0.07 at close Dec. 8
|
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