Hannan Announces Closing of Strategic Investment
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE SEPTEMBER 26, 2022
HANNAN ANNOUNCES CLOSING OF STRATEGIC INVESTMENT
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) i s p l e a s e d t o a n n o u n c e t h e c l o s i n g o f t h e s t r a t e g i c p r i v a t e p l acement financing (the “ Private
Placement”) announced on September 20, 2022.
Pursuant to the Private Placem ent, Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“ Teck”)
has subscribed for 9,180,000 common shares (the “ Common Shares ”) of Hannan at a price of $0.28 per
Common Share (the “ Issue Price ”) for gross proceeds to Hannan of C$2,570,400. Prior to the P rivate
Placement, Teck held no securities of Hannan. Upon closing of the Private Placement, Teck holds 9.0% of the
issued common shares of Hannan. No finder’s fees or commission s were paid on the Private Placement. The
Common Shares are subject to a statutory hold period, expiring on January 24, 2023. The Private Placement is
subject to final acceptance of the TSX Venture Exchange.
Michael Hudson, CEO, states, “We welcome Teck as a shareholder and thank them for their support of both our
technical and social teams, as well support for Hannan’s strategy to open up new search spaces in Peru’s frontiers
to find the next generation of large-scale global copper-silver and copper-gold deposits. This strategy has led
some of the biggest names in our Industry to partner with Hanna n, with both Teck and JOGMEC now involved
at equity and joint venture leve ls, respectively. Our partners hips allow us to strategically plan sequential tests
of multiple large-scale mineral systems in the foreland basins and back-arc of Peru over the coming years. The
opportunities are tremendous.”
The Company intends to use the net proceeds from the Private Pl acement for exploration on the Company’s
mineral exploration projects in Peru and Ireland, and for working capital and general corporate purposes.
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 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. Sec urities Act and applicable state securities laws or
an exemption from such registration requirements.
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]
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Forward Looking Statements. C e r t a i n d i s c l o s u r e c o n t a i n e d i n t h i s n e w s r e l e a s e m a y c o n s t i t u te forward-looking information or forward-looking
statements, within the meaning of Canadian securities laws, inc luding statements regarding the intended use of the net use of proceeds of the Private
Placement. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking
statements the Company has applie d certain factors and assumpti ons that are based on the Company's current beliefs as well as assumptions made by
and information currently available to the Company. These state ments address future events and conditions and, as such, involv e known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by the stateme nts. These risks and uncertainties include but are not limited to: the proposed use of
the net proceeds received from the Private Placement; political environment in which the Company operates continuing to suppor t the development and
operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; risks related to
negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers
are cautioned not to place undue reliance on forward-looking statements. 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.