Hannan Metals closes $2.12M final tranche of financing

Executive Summary

• Hannan Metals Ltd. has closed the second and final tranche of its non-brokered private placement offering, raising an additional $2,123,943.
• The total gross proceeds from the two-tranche offering amount to $9.1 million, bringing the company's total raised capital to this figure.
• The net proceeds will be used to finance exploration expenditures at the company's Peruvian projects (Belen and Previsto), including drilling and permitting activities, as well as general corporate costs.

Key Details

• Transaction Structure: Non-brokered private placement offering under the listed issuer financing exemption.
• Second Tranche Details:
  • Issued 2,831,924 common shares.
  • Price per share: C$0.75.
  • Gross proceeds: $2,123,943.
• First Tranche Details:
  • Announced on Nov. 20, 2025.
  • Gross proceeds: $7,034,810.
• Total Gross Proceeds: $9.1 million.
• Use of Proceeds:
  • Finance exploration expenditures at projects in Peru.
  • Advance drill program at Belen gold-copper prospects (DIA Valiente).
  • Geological and drill permitting work at Previsto gold-copper project (DIA Amacener).
  • General corporate and administration costs and general working capital.
• Finder's Fees: $102,011.55 cash finders' fees paid to arm's-length finders for the second tranche.
• Regulatory Status: Subject to final approval from the TSX Venture Exchange.

Notable Quotes

• "We are pleased to have closed our financing and grateful to the shareholders who participated in the offering. The strong support from both new and existing investors reflects confidence in our exploration strategy and the prospectivity of our Peruvian projects. With $9.1-million now raised, Hannan is well-funded to continue advancing drill programs at Belen and to progress permitting at Previsto." — Michael Hudson, Chairman and CEO