Business
Hannan Metals Announces Private Placement
VANCOUVER, Dec. 24, 2019 /CNW/ - Hannan Metals Limited ("Hannan" or the "Company") (TSXV: HAN) (OTCPK: HANNF) announces pursuant to a price reservation filed on
About this update from Hannan Metals Ltd.
[{"type":"text","content":" VANCOUVER, Dec. 24, 2019 /CNW/ - Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSXV: HAN) (OTCPK: HANNF) announces pursuant to a price reservation filed on December 17, 2019, a non-brokered private placement financing (the \"Private Placement\") of up to 1,500,000 common shares of the Company (the \"Common Shares\") at a price of Cdn$0.10 per Common Share (the \"Issue Price\") for gross proceeds of up to Cdn$150,000. The Company has received commitments for all of the Private Placement and subject to TSX Venture Exchange (the \"Exchange\") acceptance, anticipates closing in early January 2020. All securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada. The Company intends to use the net proceeds received by the Company from the Private Placement for exploration on the Company's Peruvian exploration properties and for working capital and general corporate purposes. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Exchange. This 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 sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF) Hannan Metals Limited is a natural resources and exploration company developing sustainable and ethical resources of metal needed to meet the transition to a low carbon economy. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing and advancing mineral projects in Europe and Per...