Handa Mining Announces Closing of Copper Project Transaction
November 21 2019 - 4:36PM
Handa Mining Corporation ("
Handa Mining" or the
"
Company") (TSX-V: HAND) is pleased to announce
that it has closed the agreement to build a processing plant to
recover copper from the copper oxide waste materials, broken rocks
lying on the surface, at the Nababeep Copper Oxide Project, located
in Northern Cape Province of South Africa (further to its news
release announced on February 15, 2019).
The Company can earn a 65% of the profits
generated by the processing plant for the first two years of
production from the plant, by building the plant, and by issuing an
aggregate of 5,150,000 common shares and paying a total of
US$15,000. After two years, the Company will receive a third of the
profits. The Company’s group of lenders who loaned US$350,000 to
the Company in April 2019 will be entitled to 35% of the profits
received by the Company.
The transaction is subject to final acceptance
of the TSX Venture Exchange.
About Handa Mining
Corporation
Handa Mining Corporation (TSX-V: HAND) is a
mining and development company that is developing the Mejillones
Phosphate Project in Chile in order to bring the Project into
production and generate cash flow. As part of its revitalized
strategy, the Company is also pursuing Joint Venture opportunities
in order to gain further exposure to surface mining opportunities
which are very close to or in production.
For further information,
contact:
Jan NelsonChief Executive Officer Handa Mining
CorporationTel: (604) 428-7050Email: jan@handamining.com
Reader AdvisoryThis news
release includes certain statements that may be considered
"forward-looking statements". These statements include, but are not
limited to, statements with respect to the use of proceeds of the
Financing, the construction of the Plant by Handa, the
profitability of the Plant and the Company's vision. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Assumptions used by the Company to
develop forward-looking statements include the following: Handa
will obtain all required environmental and other permits and all
land use and other licenses, studies and exploration of the project
will be positive and no geological or technical problems will
occur. The Company cannot guarantee that the construction of the
Plant will complete or that such project would be profitable.
Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices,
potential environmental issues or liabilities associated with
exploration, development and mining activities, exploitation and
exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary permits, licenses and
tenure and delays due to third party opposition, changes in and the
effect of government policies regarding mining and natural resource
exploration and exploitation, and general economic, market or
business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. The Company undertakes no
obligation to update forward looking information or statements,
other than as required by law.
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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