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Hannan Announces Closing of First Tranche of Non-Brokered LIFE Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"Hannan Announces Closing of First Tranche of Non-Brokered LIFE OfferingNOT 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.Vancouver, British Columbia--(Newsfile Corp. - November 20, 2025) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) (\"Hannan\" or the \"Company\") announces that the Company has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered private placement offering under the Listed Issuer Financing Exemption (the \"Offering\"). Pursuant to the closing of the First Tranche, the Company has issued 9,379,747 common shares (the \"Common Shares\") at a price of $0.75 per Common Share (the \"Offering Price\") for gross proceeds of C$7,034,810. As previously announced, the Company anticipates that, upon closing of additional tranches, the Offering will consist of the issuance of up to 14,000,000 Common Shares at the Offering Price for total aggregate gross proceeds of up to C$10,500,000. The Company intends to use the net proceeds of the Offering to fund exploration expenditures at the Company's projects in Peru, including to continue to advance the drill program at the Belen gold-copper project (DIA Valiente), geological and drill permitting work at the Previsto gold-copper project (DIA Amacener) and for general corporate and administration costs and general working capital.The Offering is subject to the Company receiving the necessary regulatory approvals, including the final approval from the TSX Venture Exchange (\"TSXV\"). The Company paid C$338,882.53 cash finder's fees to arm's length finders engaged in connection with the Offering. Subject to compliance with applicable regulatory requirements, the Offering is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and in reliance on the Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). The securities issued to purchasers in the Offering will not be subject to a hold period under applicable Canadian securities laws. There is an amended and restated offering document related to the upsized LIFE Offering da...