Business
Hannan announces oversubscription of private placement financing
Hannan announces oversubscription of private placement financing Canada NewsWire ...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"\n\n\n\nHannan announces oversubscription of 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, Aug. 14, 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, Aug. 14, 2017 /CNW/ - Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSX.V: HAN) (OTCPK: HANNF) announces that the non-brokered private placement financing (the \"Offering\") that was launched on August 2, 2017, (see news release August 2, 2017) is currently oversubscribed.  As a result, subject to TSX Venture Exchange approval, the Company now proposes to issue up to 12,600,000 units (the \"Units\") at an exercise price of Cdn$0.26 per Unit for gross proceeds of up to Cdn$3,276,000. \n\n\n \n \n\n \nEach 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 for a period of two years from closing of the Offering.  \n\nFinder's fees may be payable on a portion of the Offering.  Certain insiders of the Company may participate in the Offering.  \n\nAll securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.  \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\nThe Offering is subject to receipt of approval from the Exchange. \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 ...