Hannan Announces Closing of Private Placement
Hannan Announces Closing of Private
Placement
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR RELEASE,
PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO
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./
VANCOUVER
,
Jan. 6, 2020
/CNW/ -
Hannan Metals Limited
("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF)
announces the closing of its non-brokered private placement
financing (the "
Private Placement
") that was previously announced on
December 24, 2019
. Under
the Private Placement, the Company has issued 1,500,000 common shares of the Company (the
"
Common Shares
") at a price of
Cdn$0.10
per Common Share (the "
Issue Price
") for gross
proceeds of
Cdn$150,000
.
All securities to be issued pursuant to the Private Placement are subject to a four-month hold period
under applicable securities laws in
Canada
expiring on
May 7, 2020
. No finder's fees or commissions
were paid in connection with the Private Placement.
The Company intends to use the net proceeds from the Private Placement for exploration on the
Company's Peruvian exploration properties and for working capital and general corporate purposes.
This press release does not constitute an offer to sell or a solicitation 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 state
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. Securities Act and applicable state securities laws or pursuant to an
exemption from such registration requirements.
About Hannan Metals Limited (TSX.V:HAN)
(OTCPK: HANNF)
Hannan Metals Limited
is a natural resources and exploration company developing sustainable and
ethical resources of metal needed to meet the transition to a low carbon economy. Over the last
decade, the team behind Hannan has forged a long and successful record of discovering, financing
and advancing mineral projects in
Europe
and
Peru
.
On behalf of the Board,
"Michael Hudson"
Michael Hudson
, Chairman & CEO
Forward Looking Statements
Certain information set forth in this news release contains "forward-looking statements" and
"forward-looking information" under applicable securities laws. Except for statements of historical
fact, certain information contained herein constitutes forward-looking statements, which include the
Company's expectations regarding future performance based on current results, the use of proceeds
from the Private Placement, expected cash costs based on the Company's current internal
expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect.
These statements are not guarantees of future performance and undue reliance should not be
placed on them. Such forward-looking statements necessarily involve known and unknown risks and
uncertainties, which may cause the Company's actual performance and financial results in future
periods to differ materially from any projections of future performance or results expressed or
implied by such forward-looking statement. These risks and uncertainties include, but are not limited
to: the use of the net proceeds from the Private Placement, the granting of claim applications in
Peru
, community relations, liabilities inherent in mine development and production, geological risks,
the financial markets generally, and the ability of the Company to raise additional capital to fund
future operations. There can be no assurance that forward-looking statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
SOURCE
Hannan Metals Ltd.
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For further information:
www.hannanmetals.com, 1305 - 1090 West Georgia St., Vancouver, BC,
V6E 3V7, Mariana Bermudez, Corporate Secretary, +1 (604) 685 9316, [email protected]
CO: Hannan Metals Ltd.
CNW 07:00e 06-JAN-20