Hannans Ltd (ASX: HNR) (Hannans or the Company) confirms the $5.5 Million fully underwritten nonrenounceable pro-rata rights issue (Rights Issue) has closed.

Rights issue raised $5.5 Million.

Shareholders subscribed for 166,883,371 new shares (76% of the total new shares on offer).

Shortfall will be placed by the underwriter, Euroz Hartleys.

Funds raised will be allocated to recovering high purity metals from lithium batteries in the Nordic region, mineral exploration in Western Australia, general working capital and expenses of the rights issue.

Hannans will issue a total of 218,294,284 new fully paid ordinary shares (New Shares). The New Shares are expected to be issued on 8 November 2021 in accordance with the timetable set out in the Offer Document.

This ASX announcement has been authorised for release by Damian Hicks, Executive Director.

Contact:

Damian Hicks

Email: dhicks@hannans.com

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