Hannans : Fully Underwritten $5.5M Rights Issue

11 October 2021

Hannans to Raise $5.5 million via Rights Issue

• Non-Renounceablerights issue fully underwritten by Euroz Hartleys Limited
• Rights issue price 2.5 cents per share
• Shares will trade ex-entitlement on Thursday, 14 October 2021
• Eligible shareholders can download personalised right issue application forms from the share registry, Computershare from Wednesday, 20 October 2021
• Payment for new shares can only be made using BPAY.
• Rights issue will close at 5pm (WST) on Monday, 1 November 2021

Hannans Ltd (ASX: HNR) (Hannans or the Company) is pleased to announce it is undertaking a fully underwritten non-renounceablepro-rata rights issue on the basis of four (4) new shares (New Share) for every forty three (43) shares held by Eligible Shareholders (defined below) at an issue price of 2.5 cents per share to raise approximately $5.5 million (before costs) (Rights Issue). Euroz Hartleys Limited has been engaged to act as lead manager and underwriter to the Rights Issue.

Funds raised from the Rights Issue will be allocated to commercialising a technology that can recover high purity metals from scrap and spent1 lithium-ion battery (LiB) in Sweden, Norway, Denmark, and Finland. The technology is safe, sustainable, low energy and low CO2 when compared to incumbent technologies2. Funds will also be allocated to exploration for nickel, copper, and gold in Western Australia.

The Rights Issue is available to all shareholders of the Company (Shareholders) named on its register of members at 5:00 pm (WST) on 14 October 2021, whose registered address is in Australia, New Zealand, or the United Kingdom (Eligible Shareholders). The Rights Issue is not being extended to any Shareholders with registered addresses outside these jurisdictions. The Rights Issue details are set out in the Offer Document available to be downloaded from www.hannans.com. If you would like the Offer Document mailed to you, please call [phone] or email [e-mail]. Eligible Shareholders can log in to the share registry, Computershare to download a personalised application form from Wednesday, 20 October 2021. Computershare will also post a personalised application form to all Eligible Shareholders. Payment for new shares issued pursuant to the Rights Issue can only be made via BPAY.

The proposed timetable for the Rights Issue is as follows:

1. Also called "end-of-life"
2. Completion of a $5 Million capital raising prior to 31 December 2021 is a condition precedent to closing the LiB recycling transaction announced to ASX on 9 September 2021.

www.hannans.com

@Hannans_Ltd

Hannans_Ltd

[e-mail]

[phone]

Level 12, 197 St Georges Terrace, Perth, Western Australia	ASX: HNR	ABN: 52 099 862 129

HANNANS | 11 October 2021

Event	Proposed Date1
Announce Rights Issue and Appendix 3B	Monday, 11 October 2021
Lodge Offer Document with ASX	Monday, 11 October 2021
Shares will trade ex-entitlement	Thursday, 14 October 2021
Record Date for determining Entitlement (5:00pm AWST)	Friday, 15 October 2021
Offer Opens	Wednesday, 20 October 2021
Last Day to extend the Closing Date2	Wednesday, 27 October 2021
Offer Closes at 5:00pm (WST)	Monday, 1 November 2021
Announcement of results of issue (including any Shortfall)	Wednesday, 3 November 2021
	(prior to market open)
Issue and lodgement of Appendix 2A with ASX applying for	Monday, 8 November 2021
quotation

Note: 1 These dates are indicative only and may change, subject to compliance with the Corporations Act and the ASX Listing Rules.

2 The Directors may extend the Closing Date by giving at least 3 Business Days' notice to ASX prior to the Closing Date. Accordingly, the date the Shares are expected to commence trading on ASX may vary.

This ASX announcement has been authorised for release by the Board of Hannans Ltd.

For further information, please contact:
Damian Hicks	Ian Gregory
Executive Director	Company Secretary
E:[e-mail]	E:[e-mail]
	T: [phone]

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