Hannan Announces Private Placement
Hannan Announces Private Placement
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VANCOUVER
,
Jan. 15, 2020
/CNW/ -
Hannan Metals Limited
("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF)
announces a non-brokered private placement financing (the
"
Offering
") of up to 14,666,667 units of the Company (the "
Units
") at an issue price of
Cdn$0.15
per Unit (the "
Issue Price
") for gross proceeds of up to
Cdn$2,200,000
. Each Unit comprises one
common share and one common share purchase warrant (a "
Warrant
"). Each Warrant entitles the
holder to purchase one additional common shares of the Company at an exercise price of
Cdn$0.30
for a period of two years from closing of the Offering.
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 from the Offering for exploration on the
Company's Peruvian exploration properties and for working capital and general corporate purposes.
Finder's fees may be payable on a portion of the Offering. The Offering 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
.
Hannan's 100% owned San Martin project encompass a newly identified, basin-scale high-grade
copper-silver system situated along the foreland region of the eastern Andes Mountains in
Peru
and
neighboring countries. Geologically, these share similarities with sedimentary copper-silver deposits
including the vast Kupferschiefer deposit in
Eastern Europe
and deposits of the African Copper Belt
situated in sub-Saharan Africa, two of the largest copper districts on earth. Hannan recognized the
exceptional potential for large copper-silver deposits in this part of
Peru
and has aggressively staked
a commanding position over 521 square kilometres ("sq km") of prospective geology.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in
National Instrument 43-101, has reviewed and approved the technical disclosure contained in this
news release.
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, 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 projects 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 Offering, the
proposed use of the net proceeds received from the Offering, the Company's expectations regarding
timing to start and complete field work and outcome of results, the timing and granting of the 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.
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 06:30e 15-JAN-20