Business
Hanstone Closes Equity and Debt Financing
(TheNewswire) Vancouver, BC – TheNewswire - August 28, 2023 – Han...
About this update from Hanstone Gold Corp.
[{"type":"text","content":"Hanstone Closes 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 –\n \n \n TheNewswire -\n \n \n August 28, 2023 –\n \n \n Hanstone Gold Corp. (TSXV:HANS) (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 has closed its previously announced (see\nHanstone’s news release dated July 31, 2023) non-brokered equity\noffering (the “\n \n \n Offering\n \n \n ”) under which Hanstone raised gross\nproceeds of $600,000 and loan transaction (the “\n \n \n Loan\n \n \n ”) under which\nit has borrowed $400,000. Mr.\n \n \n Gurbakhshish\n“Bob” Hans, a director of Hanstone, was the sole participant under\nthe Offering, and Rock West Capital Corporation (the “\n \n \n Lender\n \n \n ”), a company\nunder the control and direction of Mr. Hans, was the sole lender under\nthe Loan.\n \n \n \n \n The Offering consisted 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 is comprised of one “flow-through” common share of\nthe 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 is 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 Mr. Hans with an effective date of no later than December 31,\n2023.\n \n \n \n \n Under the Loan, the Lender loaned $400,000 (the\n“\n \n \n Principal\n \n \n ”) to Hanstone, repayable on the da...