Hannan Announces Warrant Expiry Acceleration
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE MARCH 17, 2025
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 Warrant Expiry Acceleration
Vancouver, Canada – March 17, 2025 – Hannan Metals Limited ("Hannan" or the "Company")
(TSXV: HAN) (OTCPK: HANNF) announces that the Company has elected to accelerate the expiry date of
outstanding share purchase warrants of the Company originally issued in connection with the closing of a private
placement financing on May 9, 2023, (the “May 2023 Warrants”), exercisable at C$0.35 per common share
(the “Common Shares”).
In accordance with the terms of the certificates evidencing the May 2023 Warrants the Company may accelerate
the expiry date of the May 2023 Warrants in the event that the weighted average closing price of the Company’s
Common Shares on the TSX Venture Exchange (the “Exchange”) is equal to or greater than C$0.50 for twenty
(20) consecutive trading days (the “ Acceleration Trigger ”), to the date which is 30 days following the
dissemination of a news release announcing the Acceleration Trigger. As the closing price of the Company's
Common Shares has equaled or exceeded C$0. 50 per Common Share over each of the last 20 trading days
ended March 14, 2025, on the Exchange, this news release constitutes notice to all May 2023 Warrant holders
of the acceleration of the expiry date . Accordingly, the Company confirms that all the May 2023 Warrants are
now set to expire at 5:00 p.m. (Vancouver time) on April 16, 2025, being the 30th day following the date of this
notice (the "Accelerated Expiry Date"). Any May 2023 Warrants remaining unexercised after the Accelerated
Expiry Date will be cancelled.
As of March 17, 2025, an aggregate of 3,262,230 May 2023 Warrants remain outstanding. Accordingly, if all the
May 2023 Warrants are exercised, gross proceeds to the Company will total approximately C$1.1 million. There
is no assurance that all of the May 2023 Warrants will be exercised. Holders may exercise the May 2023 Warrants
before the Accelerated Expiry Date by observing the process as set out in the May 2023 Warrant certificates.
"We're pleased to announce this warrant acceleration which allows existing shareholders to exclusively fund the
Company," stated Michael Hudson, CEO and Executive Chairman. "The potential C$1.1 million in
additional capital comes at a strategic time, as we prepare to launch maiden drilling programs in both Peru and
Chile while continuing our promising exploration work at Previsto. This capital injection will help maintain ou r
operational momentum across multiple high-potential projects without dilution to our existing shareholder base.
We appreciate the continued support of our investors as we work to unlock the significant gold and copper
potential across our portfolio."
This news 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 within the United States (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 (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a resource and exploration company discovering and developing sustainable 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
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 disclosure contained in this news release may constitute forward -looking information or forward -looking
statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matter s identified in the
Company's public filings. In making the forward -looking statements the Company has applied certain factors and assumptions that are based on the
Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events
and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual resu lts, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and
uncertainties include but are not limited to: the intended use of proceeds from the exercise of the Warrants; the political environment in which the
Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious
diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; p ermitting; and
community relations. Readers are cautioned not to place undue reliance on forward -looking statements. The Company do es not intend, and expressly
disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise,
except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange) accepts
responsibility for the adequacy or accuracy of this news.