Hannan Metals to raise C$1m for Irish project
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.
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