The Prospector News

Hana Mining Receives Approval from Botswana

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Hana Mining Receives Approval from Botswana

 

 

Hana Mining Ltd. (TSX-V: HMG)(FRANKFURT:4LH)(BOTSWANA:HANA) announce that the Botswana Minister of Minerals, Energy and Water Resources has issued its final approval in respect of the transfer of certain Botswana prospecting licenses pursuant to the plan of arrangement (the “Arrangement”) involving Hana, Cupric Canyon Capital LP (“Cupric”), Cuprous Capital Ltd., a wholly owned subsidiary of Cupric, and Hana’s securityholders.

 
The parties continue to work towards satisfaction and receipt of the outstanding Arrangement conditions. The closing of the Arrangement remains subject to the satisfaction or waiver of such conditions and the final approval of the TSX Venture Exchange. The closing of the Arrangement is expected to occur in February 2013.

 

Under the Arrangement, shareholders of Hana will receive C$0.82 in cash for each common share of Hana, representing a premium of approximately 88% to the 20-day volume weighted average price of the Hana Shares on the TSX Venture Exchange as of October 23, 2012. The total consideration payable to Hana shareholders is approximately C$67 million and the Arrangement values Hana’s equity at approximately C$82 million. Upon closing of the transaction, Cupric intends to advance the Ghanzi project through the design, construction and operational phases of its development.

 

 
Further details regarding the Arrangement are set out in the Company’s notice of special meeting of securityholders and information circular dated November 16, 2012, which is available at www.sedar.com.

 

Posted February 12, 2013

Share this news article

MORE or "UNCATEGORIZED"


Omai Intersects Gold in Broccoli Hill Trenches and Drill Holes

Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce explorat... READ MORE

January 19, 2022

Monument Announces Burnakura Phase 1 Assay Results Including High-Grade Gold at Junction Target

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to an... READ MORE

January 19, 2022

Doré Copper Intersects 3.7 Meters at 9.41% Copper, 2.84 g/t Gold and 36.5 g/t Silver at Corner Bay – Continues to Expand Deposit

Doré Copper Mining Corp. (TSX-V: DCMC) (OTCQX: DRCMF) (FRA: DCM) is ple... READ MORE

January 19, 2022

Golden Tag Drills 272 g/t Ag.Eq over 7.8 m & 100 g/t Over 322.9 m Extending Endoskarn Zone 50 m SW

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) is pleased to anno... READ MORE

January 19, 2022

Barrick Delivers on Production Targets for the Third Consecutive Year

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced prelimin... READ MORE

January 19, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News