Hannan Announces Closing of Second Tranche of Non-Brokered LIFE Offering - Raises C$9.1 Million in Total

Core Viewpoint - Hannan Metals Limited has successfully closed the second tranche of its non-brokered private placement, raising a total of C$9.1 million to fund exploration activities in Peru [1][2]. Group 1: Financing Details - The second tranche involved the issuance of 2,831,924 common shares at a price of $0.75 per share, generating gross proceeds of C$2,123,943 [1]. - Combined with the first tranche, which raised C$7,034,810, the total gross proceeds from the offering amount to C$9.1 million [1]. - The company paid C$102,011.55 in cash finder's fees related to the second tranche [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to exploration expenditures at the company's projects in Peru, including advancing the drill program at the Belen gold-copper prospects and geological and drill permitting work at the Previsto gold-copper project [2]. - Additional funds will be used for general corporate and administration costs as well as working capital [2]. Group 3: Company Overview - Hannan Metals Limited is focused on identifying and delineating large gold and copper mineralizing systems in Peru [5]. - The company has a successful track record in discovering, financing, and advancing mineral projects across Australia, Europe, and South America over the past decade [5].