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Hannan Metals to raise C$1m for Irish project

8th June 2018

By: Marleny Arnoldi

Deputy Editor Online

     

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TSX-listed base metals miner Hannan Metals will raise about C$1-million through a nonbrokered private placement of up to 6.7-million units of the company at a price of C$0.15 apiece.

Each unit comprises one common share and one common share purchase warrant. The warrant entitles the holder to buy one additional share in the company at an exercise price of C$0.25 for three years from the closing of the offering.

Hannan plans to use the net proceeds to fund exploration expenditures at its Clare zinc/lead/gold/copper project, in Ireland, as well as for general working capital and corporate purposes.

The Clare project comprises nine prospecting licences over 35 444 ha.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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