July 26 (Reuters) - Hammer Metals Ltd HMX.AX :
* $1 million in funding secured HMX.AX
* Funds will enable to meet immediate requirements for planned exploration at its exciting mount isa projects in Queensland
* Hammer metals-company has agreed terms for a convertible loan of $650,000 from its largest shareholder deutsche rohstoff ag
* Says loan term is 24 months from the date of execution with interest accruing at 10% per annum
* Proceeds from fund raising will enable co to continue with its targeted exploration drilling programs on the mount isa project in nw Queensland
* Says placement of 5.8 million shares at 6 cents per share
* Source text for Eikon ID:nASXKTc8V