Hanna Appoints John A. Gould to Board of Directors and Provides Update on Private Placement
July 30th, 2020 - TheNewswire - Toronto, Ontario - Hanna Capital Corp. (the "Corporation") (TSXV:HCC), (Frankfurt:04U1) is pleased to announce that Mr. John Alan Gould has been appointed to the board of directors of the Corporation.
Mr. Gould holds a B.Sc. degree (Geology, Physics and Chemistry) from the University of Witwatersrand. At the start of Mr. Gould's career, he was initially involved in Witwatersrand and Bushveld-type mining operations in South Africa. His experience includes all aspects of mining and geological aspects that extended over deep and shallow level gold mining operations (Venterspost, East Driefontein, Randfontein Estates, Joel Gold Mine, ERPM, Grootvlei Gold Mine, Harmony and Virginia Gold Mines) as well as experience in the platinum mines (Rustenburg Platinum Mines - Amandelbult Section). Mr. Gould's international corporate experience started with him having headed up the South African operations for Platinum Group Metals for which he was responsible for the development, market position and technical performance of the company. Platinum Group Metals is a Toronto listed company with its primary assets in South Africa. Mr. Gould then joined First Uranium Corporation as Vice President Exploration and Technical Services, and was initially responsible for the Business Plans for the company. The company rehabilitated and commissioned the Ezulwini Mine, a 200kT gold and uranium operation as well as the Mine Waste Solutions operations, a 1.2Mt sand processing operation. He was then promoted to Chief Operating Officer for First Uranium (Ezulwini Mining Company) and was responsible for the entire operation. He was involved in the restructuring and re-opening of this significant gold and uranium operation that employed some 4,000 underground and plant operational people. The operations involved the reopening of a shaft and extracting both the gold and uranium from the shaft pillar as well as remnant ground. The operations were eventually sold to Gold One, a significant operator in the gold and uranium sector in South Africa.
Hanna Capital Corp. is a publicly traded company; it is a diversified investment and venture capital firm focused on providing investors with long-term capital growth by investing in a portfolio of undervalued companies and assets. The Investment portfolio may be comprised of securities of both public and private issuers primarily in mining and technology and may also include investments in certain other sectors, including water, green energy, and alternative energy. Target investments shall encompass companies at all stages of development, including pre-initial public offering and/or early-stage companies requiring start-up or development capital, as well as intermediate and senior companies.
The Corporation would like to provide an update with respect to its proposed non-broker private placement. Further to its press release of March 25 and June 17, 2020, the Corporation still intends to raise gross proceeds of up to $500,000 through a non-brokered private placement of up to 10,000,000 units (the "Units") of the Corporation at a price of $0.05 per Unit.
Each Unit shall consist of one common share ("Share") in the capital of the Corporation and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each a "Warrant Share") at a price of $0.08 per Warrant Share for a period of 24 months following the date of issuance.
The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.
Mr. Vern Bock has resigned as a director of the Corporation to pursue other opportunities. The Corporation would like to thank Mr. Bock for his contributions to the Corporation and wished him success in his future endeavours.
President and Director
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Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Hanna is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Hanna cannot assure investors that actual results will be consistent with these forward-looking statements and Hanna assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.