Hannan Announces Closing of Private Placement
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE February 18, 2020
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 THE UNITED STATES.
HANNAN ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) announces the closing of its non-brokered private placement financing (the “ Offering”) that was
previously announced on January 15, 2020 . A total of 14,683,262 units (the “ Units”) of the Company were
issued in connection with the Offering at a price of $0.15 per Unit for gross proceeds to the Company of
$2,202,489. Each Unit consists of one common share and one common share purchase warrant (a “Warrant”).
Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price
of $0.30 for a period of two years expiring on February 18, 2022.
All securities issued pursuant to the Offering are subject to a four-month hold period under applicable securities
laws in Canada expiring on June 19, 2020. The Offering is subject to the final acceptance of the TSX Venture
Exchange. The Company paid aggregate cash finders’ fees of $97,600 to two finders in respect of a portion of
the Offering. No securities were issued to finders.
The Company intends to use the net proceeds from the Offering 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
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
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 information set forth in this news release contains “forward-looking statemen ts” and “forward- looking information” und er
applicable securities laws. Except for stat ements of historical fact, certain inform ation contained herein constitutes forward- looking
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statements, which include the Company’s expectations regarding fu ture performance based on curren t results, the intended use of
proceeds from the Offering, final acceptance of the Offering from the TSX Venture Exchange, expected cash costs based on the Company’s
current internal expectations, estimates, projections, assumpti ons and beliefs, which may prove to be incorrect. These statemen ts are
not guarantees of future performance and un due reliance should not be placed on them . Such forward-looking statements necessari ly
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 Offering, the granting of a dditional
claim applications in Peru, community relations, permitting, 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 futu re events could differ materially from th ose
anticipated in such statements. The Company undertakes no obligation to update forwar d-looking statements if circumstances or
management’s estimates or opinions should change, except as requ ired 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 Ventu re
Exchange) accepts responsibility for the adequacy or accuracy of this news release.