Hansa Finalizes Agreement for Sale of Swedish Propertiesadmin
Hansa Resources Ltd. 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”.