Hansa.net Global Commerce, Inc.
NEX BOARD : HAN.H

August 07, 2013 09:30 ET

Hansa.net to Proceed with $500,000 Private Placement and Name Change

ANGUILLA, BRITISH WEST INDIES--(Marketwired - Aug. 7, 2013) - Hansa.net Global Commerce, Inc. (NEX:HAN.H) ("Hansa") announces that it is proceeding with a $500,000 private placement which was originally announced November 21, 2012. Hansa will also complete a name change to "KMT-Hansa, Corp.". The name change and creation of KMT Global Resources Corp. ("KMT") as a new control person of Hansa were both approved by shareholders at Hansa's December 19, 2012 annual and special meeting.

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 acquired 5,955,862 common shares of Hansa in a sale from control transaction in March, 2013 and will hold 68.93% of Hansa's fully diluted share capital following the proposed private placement assuming exercise of the warrants which form part of the units. Closing of the private placement with KMT is subject to NEX approval. All shares and warrants issued on the private placement will be subject to a four month hold period from closing as well as to control person restrictions on sale.

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.

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.

Contact Information

  • Hansa.net Global Commerce, Inc.
    Lynwood S. Bell
    President and Director
    (264) 497-3800
    hansa@attglobal.net