Hannan Provides Update on Engagement of Resource Stock Digest
Hannan Metals (TSX.V:HAN)(OTC PINK:HANNF) has been requested by the TSX Venture Exchange to terminate its service agreement with Resource Stock Digest (RSD). The Exchange deemed the engagement, which required a US$125,000 upfront payment for a 3-month marketing campaign, as contrary to policy due to its proximity to the company's recent private placement. The Exchange concluded that Hannan was effectively paying for the marketing campaign with shares. Hannan disagrees with this interpretation but respects the decision. No payment has been made to RSD, and Hannan plans to work with the Exchange on future marketing efforts. RSD's owners, Gerardo Del Real and Nick Hodge, are long-term shareholders who recently purchased equity exceeding the contract fee.
Hannan Metals (TSX.V:HAN)(OTC PINK:HANNF) è stata richiesta dalla TSX Venture Exchange di terminare il suo accordo di servizio con Resource Stock Digest (RSD). L'Exchange ha ritenuto che l'impegno, che prevedeva un pagamento anticipato di 125.000 USD per una campagna di marketing di 3 mesi, fosse contrario alle politiche a causa della sua vicinanza all'ultima emissione privata della compagnia. L'Exchange ha concluso che Hannan stava di fatto pagando per la campagna di marketing con azioni. Hannan non è d'accordo con questa interpretazione ma rispetta la decisione. Non è stato effettuato alcun pagamento a RSD e Hannan prevede di collaborare con l'Exchange per futuri sforzi di marketing. I proprietari di RSD, Gerardo Del Real e Nick Hodge, sono azionisti di lungo termine che hanno recentemente acquistato azioni per un valore superiore alla tariffa del contratto.
Hannan Metals (TSX.V:HAN)(OTC PINK:HANNF) ha recibido una solicitud de la TSX Venture Exchange para terminar su acuerdo de servicio con Resource Stock Digest (RSD). La Bolsa consideró que el compromiso, que requería un pago anticipado de 125,000 USD por una campaña de marketing de 3 meses, era contrario a la política debido a su proximidad a la reciente colocación privada de la empresa. La Bolsa concluyó que Hannan estaba pagando efectivamente la campaña de marketing con acciones. Hannan no está de acuerdo con esta interpretación, pero respeta la decisión. No se ha realizado ningún pago a RSD y Hannan planea trabajar con la Bolsa en futuros esfuerzos de marketing. Los propietarios de RSD, Gerardo Del Real y Nick Hodge, son accionistas a largo plazo que recientemente adquirieron capital por un monto superior a la tarifa del contrato.
Hannan Metals (TSX.V:HAN)(OTC PINK:HANNF)는 Resource Stock Digest (RSD)와의 서비스 계약을 종료하라는 TSX 벤처 교환의 요청을 받았습니다. 이 거래는 3개월 마케팅 캠페인을 위한 125,000 USD의 선불 지급이 필요했으며, 회사의 최근 사모 발행과의 밀접한 관련으로 인해 정책에 위배된 것으로 간주되었습니다. 교환소는 Hannan이 마케팅 캠페인에 대해 사실상 주식으로 비용을 지불하고 있다고 결론지었습니다. Hannan은 이 해석에 동의하지 않지만, 결정을 존중합니다. RSD에 대한 지급은 이루어지지 않았으며, Hannan은 향후 마케팅 활동에 대해 교환소와 협력할 계획입니다. RSD의 소유주인 Gerardo Del Real과 Nick Hodge는 최근 계약 수수료를 초과하는 자본을 구매한 장기 주주들입니다.
Hannan Metals (TSX.V:HAN)(OTC PINK:HANNF) a été demandé par la TSX Venture Exchange de mettre fin à son contrat de service avec Resource Stock Digest (RSD). L'échange a jugé l'engagement, qui nécessitait un paiement anticipé de 125 000 USD pour une campagne marketing de 3 mois, contraire à la politique en raison de sa proximité avec le récent placement privé de l'entreprise. L'échange a conclu que Hannan payait effectivement la campagne marketing avec des actions. Hannan n'est pas d'accord avec cette interprétation mais respecte la décision. Aucun paiement n'a été effectué à RSD et Hannan prévoit de travailler avec l'échange sur de futurs efforts marketing. Les propriétaires de RSD, Gerardo Del Real et Nick Hodge, sont des actionnaires de longue date qui ont récemment acheté des actions dépassant les frais de contrat.
Hannan Metals (TSX.V:HAN)(OTC PINK:HANNF) wurde von der TSX Venture Exchange aufgefordert, seinen Dienstleistungsvertrag mit Resource Stock Digest (RSD) zu beenden. Die Börse betrachtete das Engagement, welches eine Vorauszahlung von 125.000 USD für eine 3-monatige Marketingkampagne erforderte, als gegen die Richtlinien verstoßend, da es in zeitlicher Nähe zur jüngsten Privatplatzierung des Unternehmens stattfand. Die Börse kam zu dem Schluss, dass Hannan effektiv mit Aktien für die Marketingkampagne zahlte. Hannan stimmt dieser Interpretation nicht zu, respektiert jedoch die Entscheidung. Es wurde keine Zahlung an RSD geleistet, und Hannan plant, künftig mit der Börse an Marketingmaßnahmen zu arbeiten. Die Eigentümer von RSD, Gerardo Del Real und Nick Hodge, sind langfristige Aktionäre, die kürzlich Aktien im Wert von mehr als der Vertragsgebühr erworben haben.
- No financial loss as no payment was made to RSD
- Long-term shareholder support from RSD owners
- Termination of marketing agreement with Resource Stock Digest
- Potential impact on planned marketing efforts
- Disagreement with TSX Venture Exchange interpretation of policy
VANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Hannan Metals Limited ("Hannan" or the "Company") (TSX.V:HAN)(OTC PINK:HANNF) announces that the TSX Venture Exchange (the "Exchange") has requested the Company terminate the service agreement (the "Agreement") with Resource Stock Digest ("RSD") of Round Rock, Texas, that was previously announced by the Company on July 18, 2024.
In accordance with Policy 3.4 - Investor Relations, Promotional and Market-Making Activities ("Policy 3.4") of the Exchange, and Exchange bulletin dated April 10th 2024, the Company made a submission to the Exchange on July 19, 2024, seeking the approval of the Agreement. The Exchange, however, has deemed that the engagement of RSD, which required the upfront payment of US
RSD is owned and operated by Gerardo Del Real and Nick Hodge, both of whom have participated in several of the Company's Private Placements and most recently purchased equity significantly in excess of the RSD contract fee. Both are long term shareholders and supporters of the Company.
About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration company developing sustainable resources of metal needed to meet the transition to a low carbon economy. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and Latin America. Hannan is a top ten in-country explorer by area in Peru and has recently optioned a copper-porphyry project in Northern Chile.
On behalf of the Board, "Michael Hudson" | Further Information |
Forward Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; the Company's expectations regarding its mineral projects; market conditions, the preliminary nature of the Company's operations; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and, community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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 news.
SOURCE: Hannan Metals Ltd.
View the original press release on accesswire.com
FAQ
Why did the TSX Venture Exchange request Hannan Metals to terminate its agreement with Resource Stock Digest?
Has Hannan Metals (HANNF) made any payments to Resource Stock Digest under the terminated agreement?
What is Hannan Metals' (HANNF) response to the TSX Venture Exchange's decision?
Who are the owners of Resource Stock Digest and what is their relationship with Hannan Metals (HANNF)?
