/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES/
VANCOUVER, British Columbia, Oct. 27, 2017 (GLOBE NEWSWIRE) -- Handa Copper Corporation (" Handa Copper " or the " Company ") (TSX-V: HEC ) is pleased to announce that it expects to issue, by way of a non-brokered private placement, up to 10,000,000 units (each, an “ Offered Unit ") at a price of $0.05 per Offered Unit for total gross proceeds of up to $500,000 (the " Offering ").
Each Offered Unit shall consist of one common share of the Company and one-half of one common share purchase warrant, whereby each warrant, subject to an acceleration provision, shall entitle the holder thereof to acquire one additional common share of the Company at a price of $0.10 for a period of 24 months from the date of issuance. Handa Copper may accelerate the expiry date of the warrants if the volume weighted average price of the Company’s common shares is equal to or above $0.25 for a period of 20 consecutive trading days (the “ Triggering Event ”). In such event, the Company may accelerate the expiry date of the warrants to the date that is 30 days following the date on which it sends notice to all warrant holders of the new expiry date (the “ Notice Date ”). The Company shall also issue a news release on the Notice Date and provide notice of the early expiration date within 10 calendar days of the Triggering Event.
The net proceeds from the Offering will be used for working capital and general corporate purposes. The Offered Units will be subject to a statutory hold period of four months following the date of issuance. Closing of the Offering is expected to occur on or about November 15, 2017.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange, and such further restrictions as may apply under foreign securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Handa Copper Corporation
Handa Copper is actively pursuing the exploration and development potential of a highly significant copper discovery in the Republic of Congo (RoC). The geological parallels between the West Congolian Belt and the Central African Copperbelt (CACB), the world's richest copper province, have been recognized since the 1930s. However, sustained modern exploration has never been carried out on the former until now. Previously undisclosed archival records acquired by the Company, which included more than 10,000 stream sediment and soil samples, confirm the potential for CACB-style copper deposits on the Company's exploration licenses in the RoC. In addition, new data detailed soil sampling and geological mapping will assist the Company to effectively prioritize exploration targets for drilling.
For further information, contact:
Marek Kreczmer Director Handa Copper Corporation Tel: (604) 601-6926 Email: marek@handacopper.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.
