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HRL Hansa Resources Limited

0.06
0.00 (0.00%)
04 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hansa Resources Limited TSXV:HRL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.06 0.06 0.125 0 01:00:00

Hansa Finalizes Agreement for Sale of Swedish Properties

19/01/2010 12:30pm

Marketwired Canada


Hansa Resources Ltd. ("Hansa") (TSX VENTURE:HRL)(FRANKFURT:3F2) - Mr. Damien
Reynolds, President, is pleased to announce that Hansa has finalized a Letter of
Intent ("LOI") with Botnia Exploration Holding AB ("Botnia"), which contains the
principal terms for the sale of Hansa's wholly owned subsidiary Hans A Resources
AB ("Hans A"). Botnia is a company incorporated under the laws of Sweden that is
publicly traded on the Aktietorget exchange under the symbol "BOTX". Hans A is
the holder of a number of mineral licenses primarily located in the Vasterbotten
area of Sweden, along the famous "Gold Line".


Pursuant to the terms of the LOI, Botnia will acquire all of the issued and
outstanding shares of Hans A or, alternatively, at Botnia's option, all of the
assets of Hans A. As consideration, Hansa will receive 7,000,000 SEK or
approximately Cdn$1,000,000, payable in three instalments over thirty months,
and approximately 237,000,000 shares of Botnia. On closing, Hansa will become
the largest shareholder of Botnia owning approximately 38% of the issued and
outstanding shares of Botnia.


Approval by the shareholders of Hansa and regulators, including the TSX Venture
Exchange, will be required for the transaction.


Mr. John Nugent, Chairman of Hansa, states, "Hansa believes that the value of
our Nordic gold projects is most effectively realized in co-operation with a
strong Nordic partner. We believe that Botnia, under the leadership of Bengt
Ljung and an outstanding Board of Directors, is such a partner. We look forward
to many years of working together, unlocking the value of these properties to
the benefit of Botnia's and Hansa's shareholders".


ABOUT HANSA RESOURCES LTD.

Hansa Resources Limited is a TSX-V and Frankfurt, listed Canadian mineral
exploration company engaged in the acquisition, exploration and development of
base and precious metal properties. Hansa Resources is committed to building
shareholder value through minimizing risk and maximizing potential value of the
Company's projects, utilizing Hansa's highly experienced, flexible and
successful Board of Directors and Management.


On behalf of the Board,

Damien Reynolds, President

Forward Looking Statement. This news release contains certain "forward-looking"
statements and information relating to the Company that are based on the beliefs
of the Company's management as well as assumptions made by and information
currently available to the Company's management. Such statements reflect the
current risks, uncertainties and assumptions related to certain factors
including, without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and strategic
partners, the interest rate environment, governmental regulation and
supervision, seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein.


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