Business
Hannan Announces Closing of Second Tranche of Non-Brokered LIFE Offering - Raises C$9.1 Million in Total
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Hannan Metals Limited (...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"Hannan Announces Closing of Second Tranche of Non-Brokered LIFE Offering - Raises C$9.1 Million in TotalVancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) (\"Hannan\" or the \"Company\") announces that the Company has closed the second and final tranche (the \"Second Tranche\") of its previously announced non-brokered private placement offering under the Listed Issuer Financing Exemption (the \"Offering\"). Pursuant to the closing of the Second Tranche, the Company has issued 2,831,924 common shares (the \"Common Shares\") at a price of $0.75 per Common Share (the \"Offering Price\") for gross proceeds of C$2,123,943. When combined with the closing of the first tranche (C$7,034,810), announced by the Company on November 20, 2025, the Company has raised gross proceeds of C$9.1 million under the Offering. Michael Hudson, Chairman and CEO of Hannan Metals, stated: \"We are pleased to have closed our financing and grateful to the shareholders who participated in the Offering. The strong support from both new and existing investors reflects confidence in our exploration strategy and the prospectivity of our Peruvian projects. With C$9.1 million now raised, Hannan is well-funded to continue advancing drill programs at Belen and to progress permitting at Previsto. We thank our shareholders for their continued support as we work to unlock the potential of our gold-copper portfolio in Peru.\"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 prospects (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 final approval from the TSX Venture Exchange. The Company paid C$102,011.55 cash finder's fees to arm's length finders engaged in connection with the closing of the Second Tranche. 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 bee...