Hannan Announces Private Placement
Hannan Announces Private Placement
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./
VANCOUVER
,
Nov. 12, 2019
/CNW/ -
Hannan Metals Limited
("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF)
announces a non-brokered private placement financing (the
"
Private Placement
") of up to 4,615,385 common shares of the Company (the "
Common Shares
")
at a price of
Cdn$0.065
per Common Share (the "
Issue Price
") for gross proceeds of up to
Cdn$300,000
.
All securities to be issued pursuant to the Offering will be subject to a four-month hold period under
applicable securities laws in
Canada
. Certain directors and officers will participate in the Private
Placement.
The net proceeds received by the Company from the Offering will be used for exploration on the
Company's Peruvian exploration properties and for working capital and general corporate purposes.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals, including the approval of the TSX Venture Exchange.
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 receipt of
regulatory approvals for the Private Placement, the participation of officers and directors in the
Private Placement, 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 successful completion of the Private Placement, the Company's
ability to obtain the required regulatory approvals, 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 12-NOV-19