- Hannan Metals Limited (HAN) has closed a private placement with Teck Resources Limited for gross proceeds of C$2,570,400
- Teck Resources Limited acquired 9,180,000 common shares of Hannan at a price of $0.28 per share
- Net proceeds will be used to explore the company’s mineral exploration projects in Peru and Ireland
- Hannan Metals Limited is a natural resource and exploration company with mineral projects in Europe and Peru
- Hannan Metals Ltd. (HAN) opened trading at C$0.295
Hannan Metals Limited (HAN) has closed a private placement with Teck Resources Limited for gross proceeds of C$2,570,400.
Teck Resources Limited acquired 9,180,000 common shares of Hannan at a price of $0.28 per share.
Teck now holds 9.0 per cent of the issued common shares of Hannan.
No finder’s fees or commissions were paid. The securities issued are subject to a statutory four-month hold period, expiring on January 24, 2023.
Michael Hudson, CEO of Hannan, commented on the financing.
“We welcome Teck as a shareholder and thank them for their support of both our technical and social teams, as well as support for Hannan’s strategy to open up new search spaces in Peru’s frontiers to find the next generation of large-scale global copper-silver and copper-gold deposits. This strategy has led some of the biggest names in our Industry to partner with Hannan, with both Teck and JOGMEC now involved at equity and joint venture levels, respectively. Our partnerships allow us to strategically plan sequential tests of multiple large-scale mineral systems in the foreland basins and back-arc of Peru over the coming years. The opportunities are tremendous.”
Net proceeds will be used to explore the company’s mineral exploration projects in Peru and Ireland, working capital, and general corporate purposes.
Hannan Metals Limited is a natural resource and exploration company focused on discovering, financing, and advancing mineral projects in Europe and Peru.
Hannan Metals Ltd. (HAN) opened trading at C$0.295.