Hannan Closes Second Tranche of $500,000 Private Placement Financing
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE MAY 1, 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 CLOSES SECOND TRANCHE OF $500,000 PRIVATE PLACEMENT FINANCING
Vancouver, Canada – Hannan Meta ls Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) announces that further to its news release of April 24, 2019, the Company has closed the second tranche (the
“Second Tranche”) of its private placement financing (the “Offering”). Under the Second Tranche, the Company has
issued 795,000 Units at an issue price of C$0.10 per Unit for gross proceeds of C$79,500.
In the aggregate, together with the closing of the first tranche as announced by the Company on April 24, 2019 , the
Company has issued 5,000,000 Units for gross proceeds of $500,000. The Company plans to use the net proceeds to fund
exploration expenditures at the Company’s San Martin sediment-hosted copper-silver project in Peru, as well as for general
working capital and corporate purposes.
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 30, 2021. All securities issued pursuant to the Second Tranche are subject to a four-
month and one day hold period under applicable securities laws in Canada expiring on August 31, 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, 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 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 hectares 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]
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 results, expected cash costs based on the Company’s current internal expectations, estimates,
projections, assumptions and beliefs, which may prove to be inco rrect. These statements are not guarantees of future performanc e and undue reliance
should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, wh ich 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 un certainties include, but are not limited to: The proposed use o f the net proceeds from
the Offering, the 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 fu nd future operations. There ca n 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.
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The Company undertakes no obligation to update forward-looking st atements if circumstances or management’s estimates or opinion s 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 Ventu re Exchange) accepts
responsibility for the adequacy or accuracy of this news release.