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CALGARY, ALBERTA--(Marketwired - May 2, 2017) - BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX VENTURE:BCN)(AIM:BCN), the Canadian and London listed lithium exploration and development company focused on building an international lithium group, is pleased to announce the issue of 12,333,261 new common shares of no par value ("New Common Shares") to Hanwa Co., LTD ("Hanwa"), a leading Japan-based global trading company and one of the larger traders of battery chemicals in the Asian region. The New Common Shares represent 10.0% of the issued and outstanding share capital of the Company and are being issued at a price of 82.5 pence (approximately C$1.37)1 per share to raise approximately £10,175,000 (approximately C$16,896,000) for Bacanora pursuant to the Company's offtake agreement with Hanwa for battery grade lithium carbonate at its Sonora lithium project in Mexico (for details regarding the offtake agreement, please refer to the Company's news release dated 10 April 2017). |
