Business
Hanstone Announces Equity And Debt Financing
(TheNewswire) Vancouver, BC, July 31, 2023 – TheNewswire - Hanstone Gold Cor...
About this update from Hanstone Gold Corp.
[{"type":"text","content":"Hanstone Announces Equity And Debt Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC, July 31, 2023 –\n \n \n TheNewswire -\n \n \n Hanstone Gold Corp. (TSX.V:HANS) (OTC:HANCF) (FRA:HGO) (the\n“\n \n \n Company\n \n \n ” or “\n \n \n Hanstone\n \n \n ”)\n \n \n is pleased\nto announce that it will be conducting a non-brokered equity offering\n(the “\n \n \n Offering\n \n \n ”) under which Hanstone will raise gross proceeds of\n$600,000 and a loan transaction (the “\n \n \n Loan\n \n \n ”) under which\nit will borrow $400,000. Mr.\n \n \n Gurbakhshish\n“Bob” Hans, a director of Hanstone, or an affiliate of Mr. Hans,\nwill be the sole participant under the Offering and the Loan.\n \n \n \n \n The Offering will consist of the issuance of 12,000,000\n \n \n units of the Company (the “\n \n \n FT\n \n \n Units\n \n \n ”) at a price of $0.05 per FT Unit.\nEach FT Unit will be comprised of one “flow-through” common share\nof the Company (a “\n \n \n FT\n \n \n Common Share\n \n \n ”) and one common share purchase warrant (a “\n \n \n Warrant\n \n \n ”). Each\nWarrant will be exercisable to acquire an additional common share (a\n“\n \n \n Warrant Share\n \n \n ”, which will not be issued on a “flow-through” basis)\nat a price of $0.05 per Warrant Share for five years from the closing\ndate. The proceeds received by the Company from the sale of FT Units\nwill be used to incur eligible \"Canadian exploration\nexpenses\" (“\n \n \n CEE\n \n \n ”) that are \"flow-through mining\nexpenditures\" (as such term is defined in the\n \n \n Income Tax Act\n \n \n (Canada)) related to the Company’s Canadian mineral\nproperties located in British Columbia. The Company will renounce such\nCEE to the purchaser of the FT Units with an effective date of no\nlater than December 31, 2023.\n \n \n \n \n Under the Loan, Mr. Hans or his affiliate (the\n“\n \n \n Lender\n \n \n ”) will lend $400,000 (the “\n \n \n Principal\n \n \n ”) to\nHanstone, repayable on the date which is three years from the date of\nadvance. The Principal will accrue interest at 12% per an...