Business
Hannan Provides Update on Engagement of Resource Stock Digest
VANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Hannan Metals Limited ("Hannan" or the "Comp...
About this update from Hannan Metals Ltd.
[{"type":"text","content":"Hannan Provides Update on Engagement of Resource Stock DigestVANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Hannan Metals Limited (\"Hannan\" or the \"Company\") (TSX.V:HAN)(OTC PINK:HANNF) announces that the TSX Venture Exchange (the \"Exchange\") has requested the Company terminate the service agreement (the \"Agreement\") with Resource Stock Digest (\"RSD\") of Round Rock, Texas, that was previously announced by the Company on July 18, 2024.In accordance with Policy 3.4 - Investor Relations, Promotional and Market-Making Activities (\"Policy 3.4\") of the Exchange, and Exchange bulletin dated April 10th 2024, the Company made a submission to the Exchange on July 19, 2024, seeking the approval of the Agreement. The Exchange, however, has deemed that the engagement of RSD, which required the upfront payment of US$125,000 for a 3-month marketing campaign is close in proximity to the closing of the Company's private placement on June 27, 2024, (the \"Private Placement\") and determined that the Company was paying for this marketing campaign with shares, which is contrary to Exchange policy. While the Company disagrees with this conclusion, it respects the Exchange's decision. The Company has made no payment to RSD pursuant to the Agreement and looks forward to working with the Exchange in obtaining positive outcomes of future Exchange filings in support of the Company's marketing efforts.RSD is owned and operated by Gerardo Del Real and Nick Hodge, both of whom have participated in several of the Company's Private Placements and most recently purchased equity significantly in excess of the RSD contract fee. Both are long term shareholders and supporters of the Company.About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF)Hannan Metals Limited is a natural resources and exploration company developing sustainable 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 Latin America. Hannan is a top ten in-country explorer by area in Peru and has recently optioned a copper-porphyry project in Northern Chile.On behalf of the Board,\"Michael Hudson\"Michael Hudson, Chairman & CEOFurther Informationwww.hannanmetals.com1305 - 1090 West Georgia St., Vancouver, B...