Minco Silver Announces Investment IN Hempnova Lifetech Corporation and Appointment of New Chief Financial Officer
TSX: MSV; OTCQX: MISVF;
WKN:A0ESX5
For Immediate Release
April 22, 2020
NEWS RELEASE
MINCO SILVER ANNOUNCES INVESTMENT IN HEMPNOVA LIFETECH
CORPORATION AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV; OTCQX: MISVF;
WKN: A0ESX5) reports that it has entered into a private placement subscription agreement with
HempNova Lifetech Corporation (“HempNova”) pursuant to which it has purchased 10,000,000
common shares of HempNova at a price of $0.40 per share for an aggregate subscription cost of
$4,000,000 (the “ Subscription”). The Subscription forms part of a large r private placement
conducted by HempNova. For further details of the HempNova private placement, please refer to
HempNova’s news release dated March 27, 2020.
HempNova is involved in the business of hemp processing in Oregon, USA. For further details of
HempNova’s business and its plans for 2020 , please refer to HempNova’s news release dated
February 24, 2020. Dr. Ken Z. Cai, the CEO of Minco Silver, is also a director and the Chairman
of the Board of HempNova, and Ms. Maria Tang, an independent director of Minco Silver, is also
the President of HempNova.
Immediately prior to closing of the Subscription, the Company held no shares of HempNova. The
shares purchased by the Company pursuant to the Subscription represent approximately 17.72% of
HempNova issued and outstanding common shares upon this Subscription closed.
Minco Silver acquired the HempNova shares for investment purposes pursuant to the terms of the
Subscription. Funding for the investment in HempNova was sourced from surplus cash held by
Minco Silver. The investment does not alt er Minco Silver’s business focus on exploration and
development of mineral properties.
The Company will evaluate its investment in HempNova from time to time and may, based on such
evaluation, market conditions and other ci rcumstances, increase or decrease its shareholdings as
circumstances required through market transactions, private agreements, or otherwise. A copy of
the early warning report filed by Minco Silver in connection with the acquisition of HempNova
common shares will be available on HempNova’s SEDAR profile.
The Company also announces that Mr. Larry Tsang has retired as the Company’s Chief Financial
Officer. The Company thanks Mr. Tsang for his 4 years of service and support to the Company and
wishes him all the best in the future.
The Company is pleased to announce th at Ms. Melinda Hsu has been appointed as its Chief
Financial Officer. Ms. Hsu has over 30 years of diversified experience in areas of accounting,
finance, corporate development and administra tion in Canada and China. Ms. Hsu was formerly
the Chief Financial Officer, Corporate Secretary and Treasurer of Handeni Gold Inc. She started
her career in the State Planning Commission of China and held Corporate Controller position in
Titan Mining Corp. and various other mining and oil & gas companies with both Canadian and
international operations. Ms. Hsu is a member of Chartered Professional Accountants of British
Columbia and Ontario, and has a Master of Arts in Commerce from Renmin University of China.
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 v isit 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