Hannan Metals Ltd. (TSXV:HAN) announced a non-brokered private placement of 5,800,000 units at CAD 0.26 per unit for gross proceeds of CAD 1,508,000 on January 26, 2017. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.40 per share for a period of 12 months from the date of closing. The securities issued are subject to a hold period of four months from the date of issuance. The transaction is subject to TSX Venture Exchange approval.