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proposes to extend the expiry date of the share purchase warrants
posted on
Mar 20, 2009 01:51PM
March 20, 2009
Hana Mining Reports
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2009) - Hana Mining Ltd. (TSX VENTURE:HMG)(FRANKFURT:4LH) (the "Company") announces that it proposes to extend the expiry date of the share purchase warrants to purchase up to 1,984,570 common shares at an exercise price of $0.17 per share issued in connection with a non-brokered private placement completed April 4, 2007. Two share purchase warrants currently entitle the holder thereof to purchase one common share of the Company until April 7, 2009.
The application to amend the warrants is subject to its acceptance by the TSX Venture Exchange and the Company makes no assurances that the required acceptance for the extension of the term of the warrants will be granted.
The Company also announces that it has agreed to settle an aggregate debt of $12,500 owed to certain creditors by the issuance of 156,250 of its common shares at a deemed price of $0.08 per share. All shares to be issued in connection with the proposed debt settlement will be subject to a 24 month resale restriction
