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Hannans Reward Announces $5.25m Capital Raising
Wednesday August 12, 2009, 9:48 am

Original Announcement: Hannans - $5.25M Capital Raising

Hannans Reward announced it will continue to fund exploration activities at the Company's highly prospective suite of Western Australian exploration projects through a Placement and a Share Purchase Plan (SPP) to raise total funds of $5.25m. The $4.5m placement has been facilitated through Patersons Securities to institutional and sophisticated investor at a price of 15.5 cents per share. The funds to be raised via the SPP have been limited to $750,000 however the Company may accept oversubscriptions depending on the level of shareholder participation. On completion of the capital raising, the Company will have approx. $6.5m cash at bank (net of capital raising fees) and approx. $10m worth of equity in listed companies.

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