By Devika Patel
Knoxville, Tenn., Sept. 11 - Hana Mining Ltd. said it has arranged a C$1.5 million non-brokered private placement of units.
The company plans to sell up to 5 million units at C$0.30 each.
The units each consist of one share and one half-share 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.
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$1.5 million
|
| Units: | 5 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 11
|
| Stock symbol: | TSX Venture: HMG
|
| Stock price: | C$0.275 at close Sept. 10
|
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