Hannan Metals arranges LIFE offering

Executive Summary

• Hannan Metals Ltd. has arranged a non-brokered private placement financing of common shares, raising between $4 million and $5 million in gross proceeds.
• The offering consists of 5,333,333 to 6,666,667 common shares priced at $0.75 per share.
• Net proceeds are designated for exploration expenditures at projects in Peru, specifically to advance the drill program at the Belen prospect, as well as for general corporate and administration costs.

Key Details

• Transaction Structure: Non-brokered private placement of common shares.
• Price: $0.75 per common share.
• Minimum Size: 5,333,333 common shares for aggregate gross proceeds of $4,000,000.
• Maximum Size: 6,666,667 common shares for aggregate gross proceeds of $5,000,000.
• Regulatory Basis: Conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 and in reliance on the Coordinated Blanket Order 45-935.
• Use of Proceeds:
  • Finance exploration expenditures at projects in Peru.
  • Continue to advance the drill program at the Belen prospect.
  • General corporate and administration costs.
  • General working capital.
• Closing Date: Expected on or about November 18, 2025.
• Conditions: Subject to necessary regulatory approvals, including conditional approval from the TSX Venture Exchange.
• Finders' Fees: The company may pay cash finders' fees to certain arm's-length finders, subject to TSX-V approval.
• Insider Participation: Certain insiders may participate; such participation is exempt from formal valuation and minority shareholder approval requirements of MI 61-101. Shares issued to insiders remain subject to a hold period under TSX-V policies.
• Hold Period: Securities issued to non-insider purchasers are not subject to a hold period under applicable Canadian securities laws.

Notable Quotes

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