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Toronto,Ontario - TheNewswire - June 26, 2020-HannaCapitalCorp. (TSXV:HCC) (Frankfurt:04U1)(the"Corporation") is pleased to announce that that it has negotiated variousdebtconversionagreements(collectively,the"DebtAgreements")with nine (9) creditors (collectively, the"Creditors")of which seven (7) are arm's length parties to the Corporation and two (2) are non-arm's length parties as they are directors and/or officers of the Corporation.
PursuanttothetermsoftheDebtAgreements,theCorporationhasagreedtoissueanaggregate of 12,079,964 units (the "Debt Units") to the arm's length parties in exchange for the cancellation of an aggregateof
$603,998.19indebtowningtothearm'slength parties and 1,160,000 common shares ("Debt Shares") to the non-arm's length parties in exchange for the cancellation of $58,000 in debt owing to the parties..
TheDebtUnitsandDebtSharesarebeingissuedatadeemedpriceof$0.05.EachDebtUnitiscomprisedof one(1)commonshareandone(1)commonsharepurchasewarrant ("Debt Warrant"). Each Debt Warrant entitlestheholderthereoftoacquireone(1)commonshareof the Corporation at an exercise price of $0.08 per share at any time for a period of two (2) years from date of issuance.
TheissuanceoftheDebtSharesandDebtUnitsaresubjecttotheapprovalof the TSX Venture Exchange. All securities issued pursuant to the debt conversion are subject to a statutory four (4) month hold period.
Corporation contact: Herb Brugh
President and Director
Tel: 416.945.6630
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Statements
Thisnewsreleasecontains"forward-lookingstatements"withinthemeaningof the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statementscanbeidentifiedbytheuseofforward-lookingterminologysuchas"plans","anticipated","expects"or "doesnotexpect","is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does notanticipate",or"believes",orvariationsofsuchwordsandphrasesorstate that certain actions, events or results "may","could","would","might"or"willbetaken","occur"or"beachieved".Hannaissubject to significant risks anduncertaintieswhichmaycausethe actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release.Hannacannotassureinvestorsthatactualresultswillbeconsistentwiththeseforward-lookingstatementsand
Hanna assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.
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