Hannans hopes to raise cash through SPP

ASX-listed Hannans is hoping to raise A$2.5-million through a share purchase plan (SPP) to fund lithium exploration in Western Australia. Eligible shareholders will be able to purchase up to A$15 000 worth of new Hannans shares, with the issue rice to be determined at the end of the SPP offer period, and will be equal to a 20% discount to the volume-weighted average share price for five days prior to the closing of the SPP.