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VANCOUVER, Nov. 12, 2019 /CNW/ - Hannan Metals
Limited ("Hannan" or the "Company") (TSXV: HAN) (OTCPK:
HANNF) announces a non-brokered private placement
financing (the "Private Placement") of up to 4,615,385
common shares of the Company (the "Common Shares") at a
price of Cdn$0.065 per Common Share
(the "Issue Price") for gross proceeds of up to Cdn$300,000.
All securities to be issued pursuant to the Offering will be
subject to a four-month hold period under applicable securities
laws in Canada. Certain
directors and officers will participate in the Private
Placement.
The net proceeds received by the Company from the Offering will
be used 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 TSX Venture 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
Peru.
On behalf of the Board,
"Michael
Hudson"
Michael Hudson,
Chairman & CEO
Forward Looking Statements
Certain information set forth in this news release contains
"forward-looking statements", and "forward-looking information"
under applicable securities laws. Except for statements of
historical fact, certain information contained herein constitutes
forward-looking statements, which include the Company's
expectations regarding future performance based on current results,
the receipt of regulatory approvals for the Private Placement, the
participation of officers and directors in the Private Placement,
the use of proceeds from the Private Placement, expected cash costs
based on the Company's current internal expectations, estimates,
projections, assumptions and beliefs, which may prove to be
incorrect. These statements are not guarantees of future
performance and undue reliance should not be placed on them. Such
forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause the Company's actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statement. These risks
and uncertainties include, but are not limited to: The successful
completion of the Private Placement, the Company's ability to
obtain the required regulatory approvals, the use of the net
proceeds from the Private Placement, the granting of claim
applications in Peru, community
relations, liabilities inherent in mine development and production,
geological risks, the financial markets generally, and the ability
of the Company to raise additional capital to fund future
operations. There can be no assurance that forward-looking
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Hannan Metals Ltd.
