Hansa Resources Ltd. is providing this further update to the company’s news releases of March 20, 2018, and June 20, 2018, in regard to the company’s option agreement with Poseidon Offshore Minerals Inc. for the grant to the company of an option to earn an interest in an offshore mineral reconnaissance licence to explore for gold, diamond, heavy minerals and aggregate in an area on the continental shelf of Ghana.
A licence fee of $100,000 (U.S.) was advanced by the company and paid to the government of Ghana; however, to date the company has not received the subject licence and at this time does not have a time table for when the licence will be granted or if an amendment will be required to the licence terms including the licence area.
The delay in obtaining the licence has impacted the closing of the company’s previously announced financing and all funds held in trust have been returned to the subscribers. Once the licence is granted the company will then seek to close the necessary financing to finance work programs for the licence.
About Hansa Resources Ltd.
Hansa Resources is a TSX Venture Exchange-listed and Frankfurt-traded Canadian mineral exploration company engaged in the acquisition, exploration and development of base and precious metal properties. Hansa Resources is committed to building shareholder value through minimizing risk and maximizing potential value of the company’s projects, utilizing Hansa’s highly experienced, flexible and successful board of directors and management.
