Business
Minco Silver Announces Investment in HempNova Lifetech Corporation and Appointment of New Chief Financial Officer
Minco Silver Announces Investment in HempNova Lifetech Corporation and Appointment of New ...
About this update from Minco Silver Corporation
[{"type":"text","content":"\n\n\n\nMinco Silver Announces Investment in HempNova Lifetech Corporation and Appointment of New Chief Financial Officer\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 22, 2020\n\n\n\nTSX:  MSV; OTCQX: MISVF; WKN:A0ESX5 \n VANCOUVER, April 22, 2020 /CNW/ - Minco Silver Corporation (the \"Company\" or \"Minco Silver\") (TSX: MSV; OTCQX: MISVF; WKN: A0ESX5)  reports that it has entered into a private placement subscription agreement with HempNova Lifetech Corporation (\"HempNova\") pursuant to which it has purchased 10,000,000 common shares of HempNova at a price of $0.40 per share for an aggregate subscription cost of $4,000,000 (the \"Subscription\").  The Subscription forms part of a larger private placement conducted by HempNova.  For further details of the HempNova private placement, please refer to HempNova's news release dated March 27, 2020.\nHempNova is involved in the business of hemp processing in Oregon, USA.  For further details of HempNova's business and its plans for 2020, please refer to HempNova's news release dated February 24, 2020.  Dr. Ken Z. Cai, the CEO of Minco Silver, is also a director and the Chairman of the Board of HempNova, and Ms. Maria Tang, an independent director of Minco Silver, is also  the President of HempNova.\nImmediately prior to closing of the Subscription, the Company held no shares of HempNova. The shares purchased by the Company pursuant to the Subscription represent approximately 17.72% of HempNova issued and outstanding common shares upon this Subscription closed. \nMinco Silver acquired the HempNova shares for investment purposes pursuant to the terms of the Subscription. Funding for the investment in HempNova was sourced from surplus cash held by Minco Silver. The investment does not alter Minco Silver's business focus on exploration and development of mineral properties.\nThe Company will evaluate its investment in HempNova from time to time and may, based on such evaluation, market conditions and other circumstances, increase or de...