Hannan Announces First Tranche Closing of Private Placement Financing
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE APRIL 24, 2019
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 FIRST TRANCHE CLOSING OF PRIVATE PLACEMENT FINANCING
Vancouver, Canada – Hannan Meta ls Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) announces the closing of the first tranche (the “First Tranche”) of its previously announced private placement
financing (the “Offering”). Under the First Tranche, the Company has issued 4,205,000 Units at an issue price of C$0.10
per Unit for gross proceeds of C$420,500. Each Unit comprises one common share (a “ Share”) and one-half of one
common share purchase warrant (a “ Warrant”). Each Warrant entitles the holder to purchase one additional Share of
the Company at an exercise price of C$0.15 for a period of two years expiring on April 24, 2021. The Company paid cash
finder’s fees of C$600 to an arm’s length finder.
The Company plans to use the net proceeds to fund explorat ion expenditures at the Company’s projects in Peru and
Ireland, as well as for general working capital and corporate purposes.
The second tranche of the Offering for additional proceeds of C$79,500 is expected to close on or about April 30, 2019.
Certain directors and officers of the Company (the “ Insiders”) participated in the Firs t Tranche and purchased an
aggregate of 1,450,000 Units for aggregate gross proceeds of C$145,000. Participation by Insiders of the Company in
the Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority
Security Holders in Special Transactions (“MI 61-101 ”). The Company is exempt from the requirements to obtain a
formal valuation and minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance
of sections 5.5(a) and 5.7(a) of MI 61-101, respectively. The Offering was unanimously approved by the disinterested
members of the Board of Directors of the Company.
All securities issued pursuant to the First Tranche are subjec t to a four-month and one day hold period under applicable
securities laws in Canada expiring on August 25, 2019.
This press release does not constitute an offer to sell or a so licitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer, so licitation or sale would be unlaw ful. 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 ma y not be offered or sold within the United States or to, or
for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered
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 base metal project generation company. It has 100% ownership of the County Clare Zn-Pb-Ag project in
Ireland, which consists of 9 prospecting licenses for 35,444 he ctares and has recently filed mineral claim applications for 35, 400
hectares within the San Martin Province in Peru searching for copper and silver. 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]
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Forward Looking Statements
Certain information set forth in this news release contains “for ward-looking statements”, and “forward- looking information” under applicable securities
laws. Except for statements of historical fact, certain inform ation contained herein constitutes forward-looking statements, wh ich include the Company’s
expectations regarding future performance based on current result s, 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 th em. Such forward-looking statements necessarily involve known and unknown risks and un certainties, 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 successful completion
of the second tranche of the Offering, the granting of the claim applications in Peru, community relations, liabilities inheren t in mine development and
production, geological risks, the financial markets generally, and the ability of the Company to raise additional capital to fu nd future operations. There
can be no assurance that forward-looking statements will prove to be accurate, and actual result s and future events could diffe r materially from those
anticipated in such statements. The Company undertakes no obligati on to update forward-looking statements if circumstances or m anagement’s
estimates or opinions should change except as required by app licable securities laws. The reader is cautioned not to place undu e reliance on forward-
looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provid er (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.