Hannan Announces Private Placement
Hannan Announces Private Placement
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VANCOUVER
,
Dec. 24, 2019
/CNW/ -
Hannan Metals Limited
("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF)
announces pursuant to a price reservation filed on
December 17,
2019
, a non-brokered private placement financing (the "
Private Placement
") of up to 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 up to
Cdn$150,000
. The Company has received
commitments for all of the Private Placement and subject to TSX Venture Exchange (the
"
Exchange
") acceptance, anticipates closing in early
January 2020
.
All securities to be issued pursuant to the Offering will be subject to a four-month hold period under
applicable securities laws in
Canada
.
The Company intends to use the net proceeds received by the Company from the Private Placement
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 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 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 24-DEC-19