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Hanstone Gold Corp. ( (TSE:HANS) ) has shared an update.
Hanstone Gold Corp. has amended and restated a loan agreement to secure up to an additional $300,000 from an affiliate of director Gurbakhshish “Bob” Hans, bringing total loaned funds from the lender to $2,325,000. The combined loans carry a 15% annual interest rate, are secured by a first-priority charge over all of Hanstone’s present and future assets, and will be used for general corporate purposes approved by the board and lender.
The transaction qualifies as a related party deal under securities rules but is exempt from formal valuation and minority shareholder approval requirements because it is not equity-linked and is on reasonable commercial terms, with independent directors signing off on the arrangement. The structure reinforces Hanstone’s near-term liquidity while concentrating creditor influence with an insider lender, a dynamic that may shape the company’s financial flexibility as it advances its Golden Triangle exploration assets.
More about Hanstone Gold Corp.
Hanstone Gold Corp. is a precious and base metals exploration company focused on its Doc and Snip North projects in British Columbia’s Golden Triangle, a region hosting numerous producing and past-producing mines and large deposits nearing development. The company holds 100% interests in both projects, with Snip North subject to an option agreement with Goldrea Resources, and is led by an experienced team with a track record in gold discovery and project development.
Average Trading Volume: 81,850
Technical Sentiment Signal: Buy
Current Market Cap: C$1.54M
See more data about HANS stock on TipRanks’ Stock Analysis page.