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Hanna to Expand Exploration Activities in Africa

09.12.2022 | 17:23 Uhr | GlobeNewswire

TORONTO, Dec. 09, 2022 - Hanna Capital Corp. (the "Corporation") (TSX Venture Exchange: HCC) (Frankfurt: 04U1), a publicly traded company focused on base metals is pleased to announce that it plans to increase its exploration activities in Africa. The Corporation will focus its attention to properties that show potential for gems, diamonds, gold, copper, cobalt, and lithium. The geological environments for these sorts of properties include paleo-alluvial, syn-sedimentary and pegmatoidal intrusives. Specific attention will be directed towards the extraction of the mineral wealth by applying fundamental geo-scientific principles.

The mineral discovery process to be embarked on by the Corporation will be achieved by providing the means to simultaneously assess the geological, mining, processing and economical potential of immature mining and exploration projects. This process is further enhanced by understanding the mode of emplacement and the reconstruction of the geological history. The skills deployed will include the coordination of legal, ESG, GIS, remote sensing, mining, process engineering, mine economics and the financing of under-developed small to medium scale mines (S to MSM).

The Corporation intends to initiate its strategy in December 2022, which will be closely followed by the start-up phase in Q1 of 2023. The program will be run by veteran geological teams assisted by experience African-based business developers and ESG experts. The target countries include Zambia, DRC, Namibia, South Africa, Mozambique, and Zimbabwe.

Initially, the Corporation intends to achieve a presence in the Southern African region in terms of mineral development and intends to achieve a relationship between the owner and funder in the development of the mineral and mining process.

The Corporation will invite participation into the project discovery process with the intention of:

  1. Providing the capacity to gain and understand the supporting market and thereby obtain seed funding for the preliminary investments.

  2. Providing an understanding of the target market and the ability to de-risk the projects.

  3. Implementing the building of the local and international capacity to assist in the maturation of the S to MSM in terms of the geo-scientific understanding the properties, and the funding of the projects.

In addition, the Corporation announces that, further to its press release of September 28, 2022, the Corporation has received the approval of the TSX Venture Control for the amendment of the 10,000,000 common share purchase warrants (the "Warrants") that were issued to subscribers as part of the Corporation's private placement which closed on November 4, 2020.

The exercise period of the Warrants was extended by two (2) years from October 23, 2022, to October 23, 2024. All other terms and conditions of the Warrants will remain unchanged.

Corporation contact:

John Gould
Chief Executive Officer
Tel: 416.945.6630
john@hannacapitalcorp.com

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.


 
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