November 21, 2012 17:56 ET
ANGUILLA, BRITISH WEST INDIES--(Marketwire - Nov. 21, 2012) - Hansa.net Global Commerce, Inc. (NEX:HAN.H) ("Hansa") announces that its annual general and special meeting of shareholders will be held in Vancouver, B.C. on December 19, 2012 (the "Meeting"). Hansa will be seeking shareholder approval for an increase in the board of directors to six members, for a potential change of Hansa's name to "KMT Global Resources Corp." and for the possible creation of a new control person.
Hansa has entered into a private placement subscription agreement with KMT Global Resources Corp. ("KMT") whereby Hansa proposes to issue 10,000,000 units pursuant to a private placement at price of $0.05 per unit. Each unit will consist of one common share and one non-transferrable share purchase warrant to purchase one additional common share of Hansa at a price of $0.10 for one year from the date of closing. KMT would hold 36.2% of Hansa's issued share capital following the proposed private placement and 53.1% of Hansa's fully diluted share capital assuming exercise of the warrants which form part of the units. Closing of the private placement with KMT is subject to disinterested shareholder approval and NEX approval.
KMT is a private corporation incorporated under the laws of the Republic of Seychelles. KMT develops, markets and licenses intellectual property and intellectual design technology. This exactly fits within the business development plan which Hansa has been pursuing for a number of years. KMT's acquisition of voting control of Hansa will not result in a change of business or significant deviation in the direction of Hansa's operations. It is management's expectation that KMT's involvement with Hansa will result in significant synergy to the benefit of both Hansa and KMT. Hansa's management team welcomes and endorses the financial and business investment of KMT and is recommending that Hansa's shareholders approve the proposed private placement to KMT and creation of KMT as a control person of Hansa.
Management of Hansa has nominated Mr. Zheng Jiang Xie and Mr. Edward T.S. Chan, both representatives of KMT, for election to Hansa's board of directors at the Meeting. Mr. Xie is a resident of Shenzhen, Guangzhou Province and serves as the Chairman of the board of directors of KMT. Mr. Xie is the founder and senior partner of Shenzhen TongYing Equity Investment Fund Management Company Ltd. Mr. Xie has been actively involved in the development and financing of Asian technology companies for over a decade.
Mr. Chan is a resident of Toronto, Ontario. Mr. Chan is a founder of KMT. Prior to establishing KMT, Mr. Chan was the Senior Vice President of Global Business Development for Magplane Technology Inc. a developer of maglev transportation technology and previously the Chief Executive Officer of Nova Natural Resources, a Chinese consumer-electronics company.
ON BEHALF OF THE BOARD:
Lynwood S. Bell, President and Director
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.
Hansa.net Global Commerce, Inc.Lynwood S. BellPresident and Director(264) 497-3800
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