Hannan Metals Limited (CVE:HAN) announced Wednesday that it has raised more than $400,000 in a private placement to fund exploration work at the company’s projects in Peru and Ireland.
The base metals project generation company has 100% ownership of the County Clare zinc-lead-silver project in Ireland and recently filed mineral claim applications for 35,400 hectares in Peru searching for copper and silver.
The company issued 4.2 million shares at $0.10 each for gross proceeds of $420,500. Each unit consists of one share and one warrant that entitles the holder to purchase additional shares at $0.15 for a period of two years from the closing date of April 24.
The second tranche of the offering, expected to be nearly $80,000, is expected to close by April 30.
Shares of Hannan closed at $0.09 on the TSX Venture Exchange on Wednesday.
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