Hannan Metals Announces C$2.5 Million Private Placement Financing and Drilling Update

VANCOUVER, BC / ACCESSWIRE / June 4, 2024 / Hannan Metals Limited ("Hannan") reveals a non-brokered private placement financing to raise C$2.5 million. The offering includes up to 7,142,857 units at a price of C$0.35 per unit. Each unit comprises one common share and one-half of a common share purchase warrant. Each warrant allows the purchase of one additional share at C$0.50 for two years.

Hannan's exploration at the Valiente Project in Peru identified a mineralized belt with gold and copper targets. At the San Martin Project, a high-grade copper-silver system has been discovered. Drill permits for various areas are in process, with plans for multiple drill targets over coming years.

The financing proceeds will support exploration in Peru and Chile, along with general corporate needs. Insider participation and customary conditions apply to the offering.