TORONTO, July 26, 2024 (GLOBE NEWSWIRE) -- KMT-Hansa Corp. (the “Corporation”) is pleased to announce that it intends to raise gross proceeds of up to $350,000 through a non-brokered private placement of up to 10,000,000 units (the “Units”) of the Corporation at a price of $0.035 per Unit.
Each Unit shall consist of one common share (“Share”) in the capital of the Corporation and one-half (½) of one common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder thereof to acquire one common share of the Company (each a “Warrant Share”) at a price of $0.05 per Warrant Share for a period of 12 months following the date of issuance.
Finder’s fees on a portion of the financing may be payable in accordance with the policies of the TSX Venture Exchange.
In connection with the issue and sale of the Units, the Corporation may pay on closing certain arm’s-length third parties (the “Finders”) a finder's fee of up to 10% of the gross proceeds raised from the sale of the Units. In addition, the Corporation may grant to the Finders compensation warrants (the “Compensation Warrants”) entitling the Finders to purchase that number of Units of the Corporation (the “Compensation Units”) as is equal to 10% of the number of Units sold. The Compensation Warrants may be exercised, in whole or in part, at any time on or before 5:00 p.m. (Toronto time) on the date that is twelve (12) months following the closing of the private placement at an exercise price of $0.05 per Compensation Unit.
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.
For further information please contact:
Jay Vieira
Director and Chief Executive Officer
Email: kmthansa@gmail.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.
Forward Looking Statements
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”. KMT-Hansa 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. KMT-Hansa cannot assure investors that actual results will be consistent with these forward-looking statements and KMT-Hansa assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.
