Metallis Resources Inc. Closes 2nd and Final Tranche of Private Placement
June 6, 2014
Vancouver, BC: Metallis Resources Inc. (TSX-V: MTS) (the “Company” or “Metallis
| Resources”) | announces that it has closed a second tranche of its previously announced non- |
|---|---|
| brokered private placement (the "Private Placement"), pursuant to which it has issued 100,000 | |
| shares of the Corporation at a price of $0.13 per share for aggregate gross proceeds of | |
| $13,000. |
The securities issued under the private placement will be subject to a hold period expiring on October 5, 2014 pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange. No finder's fees will be paid for these amounts.
Total proceeds from the first and second tranche of the private placement total $187,300 and will be used to fund exploration of the Company's Kirkham Property and for general corporate purposes.
Mr. Aliperti, CEO and President states: “Even though early stage exploration financing remains a difficult exercise in a risk-adverse market, we did raise $187,300. We fully expect to complete the phase one exploration program this year and therefore further asset sales and equity financings, including a flow through share offering, will be considered to ensure all of the Company’s funding needs are met.”
On behalf of the Board of Directors:
/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director
For further information, please visit www.metallisresources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.