Business
Hannan Closes Private Placement
Hannan Closes Private Placement Canada NewsWire VANCOUVER, BC, July 14, 2020 ...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"\n\n\n\nHannan Closes Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 14, 2020\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 VANCOUVER, BC, July 14, 2020 /CNW/ - Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSXV: HAN) (OTCPK: HANNF) is pleased to announce that pursuant to a price reservation filed with the TSX Venture Exchange (the \"Exchange\") on June 29, 2020, and subsequent submission to the Exchange, the Company received conditional acceptance from the Exchange to proceed with a non-brokered private placement of up to 4,000,000 units (the \"Units\") with a strategic investor group (the \"Strategic Investor\"), at a price of C$0.25 per Unit for aggregate gross proceeds to the Company of C$1,000,000 (the \"Private Placement\").  Each Unit comprises one common share and one-half of one common share purchase warrant.  Each whole warrant entitles the holder to purchase one additional common share at an exercise price of C$0.35 per common share for a period of two years expiring on July 13, 2022.   \n\n \n \n \n \n \n \n\n \nMr Hudson, Chairman and CEO, states, \"We welcome the new Strategic Investor to Hannan's register.  The investor has already been a great support for the Company, and we look forward to working together as we go forward to further enhance shareholder value as we build on our copper-silver discovery at San Martin in Peru.  This deal was struck at the end of June and was based on a trading price of $0.295 at the time.  Given the subsequent market movement and to minimize dilution, the Board decided to restrict this placement to the strategic investor alone. We look forward to advancing our project, as our understanding has grown significantly with our 2020 field results, combined with recent remote sensed mapping which has provided an advanced geological perspective and overview.\"...