March 4 (Reuters) - Hannans Reward Ltd HNR.AX :
* Entered into a strategic collaboration with leading Australian specialty metals company Neometals Ltd
* Neometals has agreed to immediately subscribe for 62.5 million shares in Hannans priced at current market price of 0.4 cents per share
* Says Hannans funded for the current work program until 2018 with about $2.5 million cash
* Co is also obliged to complete a $1.25 million capital raising with neometals underwriting the final $250,000
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