Minco Silver Annouces Revised Investment IN Hempnova Lifetech Corporation
143996\4831-9567-0971
TSX: MSV; OTCQX: MISVF;
WKN:A0ESX5
For Immediate Release
May 5, 2020
NEWS RELEASE
MINCO SILVER ANNOUCES REVISED INVESTMENT IN HEMPNOVA LIFETECH
CORPORATION
Vancouver, BC -Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV
OTCQX: MISVF; WKN: A0ESX5) today reported that it has reduced the size of its private
placement investment in HempNova Lifetech Corporation (“ HempNova”) from 10,000,000
common shares of H empNova to 7,950,000 common shares at a price of $0.40 per share. As a
result, the aggregate amount of the Company’s investment in HempNova has been reduced from
$4,000,000 to $3,180,000.
The shares purchased by the Company pursuant to the reduced invest ment represents
approximately 12.80% of the issued and outstanding common shares of HempNova after closing
of the HempNova private placement. The Company has filed an amended early warning report to
reflect its reduced investment in HempNova. A copy of the amended early warning report is
available for review on HempNova’s SEDAR profile.
The private placement in HempNova was reduced to ensure that it did not exceed 10% of the
Company’s market capitalization on the date the investment was first announced. Pursuant to TSX
policies, the approval of the investment in the original amount, which exceeded 10% of the
Company’s market capitalization, would have required shareholder approval. To avoid the delays
and expense of convening a shareholder meeting for purposes of seeking shareholder approval, the
Company elected instead to reduce the amount of its investment.
As part of its due diligence review of HempNova, the Company has satisfied itself that the business
of HempNova does not violate U.S. federal law regarding marijuana and is operated legally in all
jurisdictions in which it operates. The tests regarding such compliance are set forth in TSX Staff
Notice 2017-0009. Specifically, the Company has satisfied itself that HempNova (1) has no direct
or indirect ownership of, or investment in any entities engaging in activities related to the
cultivation, distribution or possession of marijuana in the United States ("Subject Entities"), (2) has
no commercial interests or arrangements with Subject Entities that are similar in substance to
ownership of, or investment in Subject Entities, (3) does not provide services or products that are
specifically designed for, or targeted at, Subject Entities , and (4) has no commercial interests or
arrangements with entities engaging in the business activities described above.
ON BEHALF OF THE BOARD
“Ken Z. Cai”
President
143996\4831-9567-0971
About Minco Silver
Minco Silver Corporation is a TSX and OTCQX listed company focusing on the exploration and development
of mineral resource projects. The Company’s primary focus is to advance our properties , the Fuwan Silver
Project and the Changkeng Gold Project, towards production. The Fuwan Silver Project and the Changkeng
Gold Project are adjoined and are located approximately 45 kilometres southwest of Guangzhou City, China.
We also seek to identify and acquire additional precious metal dominant projects that we believe will enhance
shareholder value. For more information on Minco Silver, please visit the Company's website at
www.mincosilver.ca or contact Jennifer Trevitt, at 1-888-288-8288 or (604) 688-8002 [email protected]
2060 – 1055 W. Georgia St., Vancouver, BC, Canada V6E 3R5
Tel: (604)688-8002 Fax: (604)688-8030 Toll Free: (888)288-8288
E-mail: [email protected] Website: www.mincosilver.ca