NEX: KMC.H
ANGUILLA, British West Indies,
Sept. 9, 2019 /CNW/ - Further to its
press release of August 27, 2019, KMT
Hansa Corp. ("KMT" or the "Company") would like to
announce that it has secured bridge financing in the aggregate
amount of $1 million (the "Bridge
Financing") from HDD Investment Holdings Corp. ("HDD"), a non-arm's
length party.
The Company will issue an aggregate of 12.1 million common
shares at a price of $0.0825 per
share to HDD for aggregate gross proceeds of $1 million. The terms of the Bridge Financing is
identical to the terms of the proposed private placement announced
in its press release of August 27,
2019.
The Bridge Financing is subject to all necessary regulatory
approvals including the approval of the TSX Venture Exchange. The
common shares being issued pursuant to the Bridge Financing will be
subject to a four month hold period in accordance with applicable
Canadian securities laws. The proceeds from the Bridge Financing
will be used to pay for the expenses associated with the closing of
the of the proposed acquisition of 50% of the issued and
outstanding securities in the capital of QXCENTURY Ventures Ltd.
("QXCV"), an arm's length party and its acquisition of HDD's
Lumuwan Forest Farm party (collectively, the "Transactions").
Shareholders are urged to refer to the Company's press release of
August 27, 2019 for complete details
of the Transactions.
In addition, the Company is pleased to announce that it has
retained Hampton Securities Limited to act as sponsor with respect
to the Transactions.
As the Transactions involve assets that are situated in
China, the Company will be
required to comply with the requirements of OSC Staff Notice
51-720 - Issuer Guide for Companies Operating in Emerging
Markets ("51-720"). Pursuant to 51-720 the Company is required
to provide additional disclosure with respect to the Company doing
business in China. The additional
disclosure, which will be provided in the information circular to
be prepared by the Company, will focus on Corporate Governance
Practices, Corporate Structures, Related Party Transactions and
Risk Management and Internal Controls.
More information about KMT-Hansa Corp. can be found at
www.kmthansacorp.com and the Company can be contacted by email at
chan@kmthansacorp.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE KMT-Hansa Corp.