Hannan Announces Closing of First Tranche of Non-Brokered LIFE Offering

Core Viewpoint - Hannan Metals Limited has successfully closed the first tranche of its non-brokered private placement offering, raising gross proceeds of C$7,034,810 through the issuance of 9,379,747 common shares at a price of $0.75 per share, with plans to raise up to C$10,500,000 in total [1][2]. Group 1 - The net proceeds from the offering will be utilized for exploration expenditures at the company's projects in Peru, including advancing the drill program at the Belen gold-copper project and geological and drill permitting work at the Previsto gold-copper project [2]. - The offering is subject to necessary regulatory approvals, including final approval from the TSX Venture Exchange, and the company has paid C$338,882.53 in cash finder's fees to arm's length finders [3]. - The offering is conducted under the Listed Issuer Financing Exemption, and the securities issued will not be subject to a hold period under applicable Canadian securities laws [4]. Group 2 - Hannan Metals Limited is focused on identifying and delineating large gold and copper mineralizing systems in Peru, with a successful track record in discovering and advancing mineral projects across various regions [6].