Hannan Metals Announces Acceleration of Warrant Expiry

Vancouver-based Hannan Metals Limited has announced the acceleration of the expiry date for its outstanding share purchase warrants issued during a private placement in May 2023. The warrants are exercisable at C$0.35 per share. The decision follows the company's stock surpassing the C$0.50 mark for 20 consecutive trading days on the TSX Venture Exchange.

The new expiry date is set for April 16, 2025, accelerating the previous timeline. Currently, 3,262,230 warrants remain unexercised. If all are claimed, it could result in an influx of approximately C$1.1 million in capital for Hannan, supporting its projects in Peru and Chile.

Michael Hudson, CEO, sees this as an opportunity to secure funds from existing shareholders. He noted that this move aligns with the company's strategy of maintaining operational momentum without diluting existing shares.