Toronto, June 17, 2020 - Hanna Capital Corp.
(the "Corporation") (TSXV:HCC) (Frankfurt:04U1) would like to provide an update with respect to its proposed non-broker private placement. Further to its press release of March 25, 2020, the Corporation still intends to raise gross proceeds of up to $500,000 through a non-brokered private placement of up to 10,000,000 units (the "Units") of the Corporation at a price of $0.05 per Unit.
Each Unit shall consist of one common share ("Share") in the capital of the Corporation and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each a "Warrant Share") at a price of $0.08 per Warrant Share for a period of 24 months following the date of issuance.
The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.
Hanna Capital Corp.
Herb Brugh, President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statement: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Hanna is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Hanna cannot assure investors that actual results will be consistent with these forward-looking statements and Hanna assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.