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Hannan Metals Ltd

Hannan Metals closes first tranche of financing for exploration in Peru and Ireland

The junior prospect generator raised more than C$420,000 in the first tranche of the private placement, with a remaining $80,000 to close by the end of April

canadian money
The company issued 4.2 million shares at $0.10 each for gross proceeds of $420,500

Hannan Metals Limited (CVE:HAN) announced Wednesday that it has raised more than $400,000 in a private placement to fund exploration work at the company’s projects in Peru and Ireland.

The base metals project generation company has 100% ownership of the County Clare zinc-lead-silver project in Ireland and recently filed mineral claim applications for 35,400 hectares in Peru searching for copper and silver.

The company issued 4.2 million shares at $0.10 each for gross proceeds of $420,500. Each unit consists of one share and one warrant that entitles the holder to purchase additional shares at $0.15 for a period of two years from the closing date of April 24.

READ: Hannan Metals to raise up to $500,000 to fund exploration in Peru and Ireland

The second tranche of the offering, expected to be nearly $80,000, is expected to close by April 30.

Shares of Hannan closed at $0.09 on the TSX Venture Exchange on Wednesday.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Hannan Metals Ltd

Price: $0.07

Market: TSX-V
Market Cap: $3.69 m
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