Hansa Corporation

August 25, 2006 14:54 ET

Hansa Corporation: News Release

CALGARY, ALBERTA--(CCNMatthews - Aug. 25, 2006) - Glen R. Alston, President of Hansa Corporation (NEX BOARD:HSA.H) (the Company) announced on June 28, 2006 the Company had entered into a purchase agreement dated June 7, 2006, subject to shareholder and regulatory approvals, with principals of Minera Azteca de Oro y Plata S. A. de C. V. (Minera), a private Mexican company.

The transaction is an arm's length transaction which will result in a reverse take-over of the Company.

The Company wishes to announce that the previously announced non-brokered private placement arranged as part of the agreement has been increased from 1,200,000 units to 1,500,000 units. All other terms of the private placement are to remain the same. This will result in the Company realizing total proceeds from the private placement of $2,250,000.

It is further proposed that Randal Squires be appointed as Chief Financial Officer of the Company. Randal received his MBA - Finance from Golden Gate University, San Francisco in 1995 and has worked in the accounting and finance field since that time.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the Reverse Take-over may not be accurate or complete and should not be relied upon. Trading in the securities of Hansa Corporation should be considered highly speculative.

WARNING: the Company relies upon litigation protection for "forward looking" statements.

Shares issued: 15,879,803

April 18, 2006 close: $0.23

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Hansa Corporation
    Glen Alston
    (403) 269-5369