Hannans Ltd : - SPP and Placement Raises $1.6 Million

Hannans Ltd (ASX: HNR) (Hannans or the Company) is pleased to announce the recently completed SPP and Placement raised $1.605 million at an issue price of 0.44 cents per share.

Hannans would like to acknowledge the large number of Hannans shareholders that participated in the capital raising and placement, in particular the Company's largest shareholder Neometals Ltd who subscribed for $365,000 in the placement.

Funds from the capital raising will principally be allocated towards making a major discovery of: nickel-copper at Fraser Range; nickel and gold at Southern Cross and or nickel at Forrestania.

Contact:

Damian Hicks

Tel: [phone]

Email: [e-mail]

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