Hannans prepares for gear change as it strikes new agreement
PERTH (miningweekly.com) – ASX-listed Hannans has inked a heads of agreement with privately held Greenhouse Investments granting Hannans the right to enter the lithium battery (LiB) recycling markets in the UK, Ireland, Italy and the Balkans, marking a shift change for the junior metals developer.
In addition, Hannans has secured Greenhouse’s market intelligence and relationships in these regions.
Hannans said on Tuesday that the Greenhouse agreement more than doubles the company’s addressable market for scrap and end-of-life batteries.
Hannans in late 2021 struck an agreement with Critical Metals providing it with a right to commercialise an LiB recycling technology in Sweden, Norway, Finland and Denmark, and by combining these territories with the UK, Ireland, Italy and the Balkans, Hannans has established tremendous leverage to the rapidly grow the European LiB recycling sector, and specifically in countries with the highest penetration rates of electric vehicles, Hannans said.
“We are extremely pleased to deliver this increase in size and scope of our recycling opportunity for Hannans shareholders. It is abundantly clear that Europe needs a scalable, safe and sustainable lithium battery recycling solution,” Hannans executive director Damian Hicks said.
“We believe the technology we will hold sub-licences to will help stakeholders in our licensed jurisdictions meet their circular economy ambitions and legal obligations to recycle. We are now focused on increasing Hannans' business development activities and forming long-term mutually beneficial relationships with the European lithium battery supply chain participants.”
Under the terms of the agreement, Hannans would issue Greenhouse with more than 539.5-million shares, subject to shareholder approval in late March or early April that would allow shareholders to consider a change in Hannans’ activities, because of this transaction.
As part of a re-compliance process, Hannans is required to undertake a capital consolidation, with the company announcing a planned 1.2-for-1 consolidation, subject to shareholder approval.
The company is hoping to raise A$2.5-million, at a price of A$0.035 a share, to fund its expansion plans and to meet ASX conditions for re-complying. The capital raise will be completed by way of a general offer to the public, with existing Hannans shareholders to be given priority.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation