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Hannan Announces Closing of $1.5 Million Private Placement Financing
Hannan Announces Closing of $1.5 Million Private Placement Financing Canada NewsWi...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"\n\n\n\nHannan Announces Closing of $1.5 Million Private Placement Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 17, 2017\n\n\n\n/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./\n\n\n\nVANCOUVER, Feb. 17, 2017 /CNW/ - Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSX.V: HAN) announces the closing of its previously announced non-brokered private placement financing (the \"Offering\") of 5,800,000 units of the Company (the \"Units\") at a price of Cdn$0.26 per Unit for gross proceeds of Cdn$1,508,000. Each Unit comprises one common share (a \"Share\") and one-half of one common share purchase warrant (a \"Warrant\"). Each whole Warrant entitles the holder to purchase one additional Share of the Company at an exercise price of Cdn$0.40 per Share for a period of one year expiring on February 17, 2018.  \n\n\n \n \n\n \nThe Company paid cash finder's fees of $35,880 and issued 138,000 common share purchase warrants (the \"Finder's Warrants\") to a finder in connection with certain subscriptions in the Offering. The Finder's Warrants have the same terms as the Warrants. \n\nAll securities issued pursuant to the Offering are subject to a four-month hold period expiring on June 18, 2017.  \n\nThe Company plans to use the net proceeds to fund exploration expenditures at the Company's Kilbricken Project in Ireland, as well as for general working capital and corporate purposes. \n\nThis 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 ...