By Devika Patel
Knoxville, Tenn., April 29 - Hana Mining Ltd. said it plans a C$21 million private placement of stock. There is a C$3.15 million greenshoe.
The company will sell 10 million ordinary shares at C$2.10 apiece on a bought-deal private placement basis.
Settlement is expected May 20.
The deal will be 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 for general working capital.
Hana is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Hana Mining Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | C$21 million
|
| Greenshoe: | C$3.15 million
|
| Shares: | 10 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$132 million
|
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