| ||Fri Mar 19, 2010|
Hansa Closes Transaction for the Sale of Swedish Properties
| ||March 19, 2010 - Vancouver, Canada -- Hansa Resources Ltd ("Hansa") TSXv-HRL; Frankfurt-3F2 - Mr. Damien Reynolds, President, is pleased to announce the closing of the transaction, announced on January 19, 2010, for the sale of the Company's Swedish properties to Botnia Exploration Holding AB ("Botnia").|
Pursuant to the terms of the purchase and sale agreement between the Company and Botnia, Botnia has acquired all of the issued and outstanding shares of Hansa's wholly owned subsidiary, Hans A Resources AB. As consideration, Hansa will receive 7,000,000 SEK, approximately Cdn$1,000,000, payable in four instalments over thirty months, and 237,816,080 shares of Botnia, payable in two instalments. The Company has now received the initial cash payment of approximately $250,000 and 118,908,940 shares of Botnia.
ABOUT HANSA RESOURCES LTD.
Hansa Resources Limited is a TSX-V and Frankfurt, listed Canadian mineral exploration company engaged in the acquisition, exploration and development of base and precious metal properties. Hansa Resources is committed to building shareholder value through minimizing risk and maximizing potential value of the Company's projects, utilizing Hansa's highly experienced, flexible and successful Board of Directors and Management.
On behalf of the Board,
Damien Reynolds, President
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Forward Looking Statement. This news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.