Hansa extends definitive agreement date for Tribeca RTO Hansa extends definitive agreement date for Tribeca RTO
2021-10-21 16:47 ET - News Release
Mr. Robert Atkinson reports
HANSA PROVIDES UPDATE REGARDING PROPOSED ACQUISITION OF LA HIGUERA IOCG PROPERTY
Hansa Resources Ltd. has provided an update on the company's proposed transaction with Tribeca Resources Ltd. (TRL), as previously announced in the company's news release dated July 14, 2021.
TRL, Tribeca Resources Chile SpA (TRC), Bluerock Resources SpA, P&C Gow Investments Pty. Ltd., Thomas Schmidt and Hansa have agreed to extend the date for signing the definitive agreement to enter into a business combination transaction that will constitute a reverse takeover, as such term is defined in the policies of the TSX Venture Exchange, of Hansa. Pursuant to the transaction, Hansa will acquire all of the issued and outstanding securities of TRL, which, immediately prior to the closing of the transaction, will control, indirectly, the prospective La Higuera iron-oxide-copper-gold project, located in the Coquimbo region, Chile. The timing for signing the definitive agreement has, for the time being, been left open as all parties work together to complete outstanding items.
A key item for this transaction is the National Instrument 43-101 technical report on the property. A final draft of the technical report was received and has been submitted to regulatory authorities.
The parties continue to work diligently together on multiple aspects of the transaction, including completing the internal corporate reorganization of TRL (as further described in the initial news release) and finalizing the definitive agreement.
Additional news will be issued as the transaction advances.
Trading halt
The Hansa shares are currently halted from trading, and the trading of the Hansa shares is expected to remain halted pending completion of the transaction.