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RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR
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VANCOUVER, Jan. 6, 2020 /CNW/ - Hannan Metals
Limited ("Hannan" or the "Company") (TSXV: HAN) (OTCPK:
HANNF) announces the closing of its non-brokered private
placement financing (the "Private Placement") that was
previously announced on December 24,
2019. Under the Private Placement, the Company has issued
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 Cdn$150,000.
All securities to be issued pursuant to the Private Placement
are subject to a four-month hold period under applicable securities
laws in Canada expiring on
May 7, 2020. No finder's fees or
commissions were paid in connection with the Private Placement.
The Company intends to use the net proceeds from the Private
Placement for exploration on the Company's Peruvian exploration
properties and for working capital and general corporate
purposes.
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 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 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.
