Hannan Announces C$1.7M IN Proceeds from Exercises of Warrants
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE JULY 13, 2021
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
HANNAN ANNOUNCES C$1.7M IN PROCEEDS FROM EXERCISES OF WARRANTS
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to announce that further to the Company’s news release dated April 28, 2021, an additional
aggregate of 6,735,167 common share purchase warrants (the “Warrants”) have been exercised for aggregate
gross proceeds to the Company of $1,695,552.
Highlights:
6.7M warrants exercised for aggregate gross proceeds to the Company of $1.7M;
Almost universal take-up by shareholders of the total warrants that expired on July 06, 2021;
Michael Hudson, CEO, states: “I would like to thank all our shareholders for their almost u niversal take-up of
warrants and their continued support and vote of confidence in Hannan. The interests of shareholders and
insiders, given their substantial co-participation in the exerc ise of warrants, are further aligned to benefit from
the success of Hannan’s exploration efforts to define large-scale copper-gold-silver mineral systems throughout
Peru’s frontier areas.
“Hannan is now even better positioned, with both a fully-funded US$35M joint venture with Japan Oil, Gas and
Metals National Corporation (“ JOGMEC”) on a third of our Peruvian holdings, as well as a healthy treas ury to
fund and advance exploration on two thirds of the Company’s vast mining concession portfolio in Peru.”
Hannan is a Top 10 in-country Peru explorer with 217,200 hectares (“ha”), or 2,172 square kilometres (“sq km”)
of tenure, of which 62% (135,700ha/1,357 sq km) is explored in its own right and 38% (81,500 ha/815 sq km)
explored in joint venture with JOGMEC. JOGMEC has the option to earn up to a 75% beneficial interest from
Hannan in the San Martin Projec t by spending up to US$35,000,00 0 to deliver a feasibility study to the joint
venture ("JV").
The Warrants were exercised pursuant to the terms of warrant certificates issued in connection with the closing
of unit private placement financings undertaken by the Company in July 2018 (the “July Warrants”), and
February 2020 (the “February Warrants”), with each outstanding warrant exercisable into one common share of
the Company. As of July 06, 2021, the expiry date of the July Warrants, 98.38% of the total July Warrants
issued were exercised. No commission has been paid in connection with the exercise of the Warrants. Proceeds
are being used for the Company’s ongoing exploration programs and for general working capital purposes.
There remains 14,517,429 warrants outstanding ranging in prices from $0.30 to $0.35, which, if exercised, will
provide the Company with additional proceeds of approximately C $4.4 million. The Company has a total of
91,206,611 shares issued and outstanding, as at today’s date.
This news release does not constitute an offer to sell or a sol icitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The
securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), or the securities laws of any stat e of the United States, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under
the U.S. Securities Act) absent registration under the U.S. Sec urities Act and applicable state securities laws or
an exemption from such registration requirements.
2
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration co mpany developing sustainable resources of metal needed
to meet the transition to a low carbon economy. Over the last d ecade, the team behind Hannan has forged a long and
successful record of discovering, financing, and advancing mine ral projects in Europe and Peru. Hannan is a top ten in-
country explorer by area in Peru.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO
Further Information
www.hannanmetals.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez, Corporate Secretary,
+1 (604) 685 9316, [email protected]
Forward Looking Statements. Certain disclosure contained in this news release may constitut e forward-looking information or forward-looking
statements, within the meaning o f Canadian securities laws. The se statements may relate to this news release and other matters identified in the
Company's public filings. In making the forward-looking stateme nts the Company has applied certain factors and assumptions tha t are based on the
Company's current beliefs as well as assumptions made by and in formation currently available to the Company. These statements address future events
and conditions and, as such, involve known and unknown risks, u ncertainties and other factors which may cause the actual resul ts, performance or
achievements to be materially different from any future results , performance or achievements expressed or implied by the state ments. These risks and
uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation
of mining projects; the threat associated with outbreaks of vir uses and infectious diseases, including the novel COVID-19 viru s; risks related to negative
publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community rela tions. Readers are
cautioned not to place undue reliance on forward-looking statem ents. The Company does not intend, and expressly disclaims any intention or obligation
to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the policies of the TSX Vent ure Exchange) accepts
responsibility for the adequacy or accuracy of this news