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Hana Mining Ltd.: Hana Mining Closes $500,000 Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2009) - Hana Mining Ltd. (TSX VENTURE:HMG) (FRANKFURT:4LH) (the "Company") is pleased to announce that it has completed the non-brokered private placement announced on June 26, 2009 for proceeds of $500,000. The private placement consisted of 2,000,000 units (the "Units") at a price of $0.25 per Unit. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant referred to as a "Warrant"). Each Warrant will entitle the holder to acquire, upon exercise, one additional common share in the capital of the Company, exercisable on or before June 30, 2011, at a price of $0.35 per share. All securities issued and issuable under the non-brokered private placement are subject to a hold period expiring on October 30, 2009.
The net proceeds of this private placement will be used to fund ongoing exploration of the Company's highly prospective Ghanzi Copper-Silver Project, located in the Republic of Botswana.
About Hana Mining
Hana Mining is a junior exploration company developing the highly prospective Ghanzi Copper- Silver Project in Botswana, Africa. The property consists of five license blocks covering 2,200 square kilometers that contain widespread sediment-hosted copper-silver mineralization. The Company has the right to acquire a 70% controlling interest in the Ghanzi Project.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
