Interesting... Pala buys in at .50. What do they know?
Mario
TORONTO , May 16, 2012 /CNW/ - Pala Investments Holdings Limited ("PIHL") announced today that on May 15, 2012 , PIHL acquired of a total of 8,000,000 common shares of Hana Mining Ltd. ("Hana"), representing approximately 8.04% of the 99,533,393 issued and outstanding common shares of Hana, as known by PIHL. The common shares were acquired through the facilities of the TSX Venture Exchange.
After giving effect to the acquisitions referred to above, PIHL owns and controls, directly and indirectly, a total of 16,413,800 common shares representing approximately 16.49% of the issued and outstanding shares of Hana, as known by PIHL.
The average consideration for each common share of Hana acquired was CDN
.50 per common share. PIHL has acquired the common shares for investment purposes and may increase or decrease the investment in the common shares depending upon future market conditions.
PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT.