US OTC: MMNGF Metallic Minerals Corp. Completes $900,000 Private Placement Financing
TSX-V: MMG
US OTC: MMNGF
Metallic Minerals Corp. Completes $900,000 Private Placement Financing
November 21, 2018 - Vancouver, B.C., Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic
Minerals” or the “Company”) announces that it has closed two concurrent, non-brokered private placements resulting
in total gross proceeds to the Company of $900,834 through the issuance of 4,039,971 units. Metallic Minerals will
issue 3,415,221 non-flow-through units at a price of $0.22 per unit for total gross proceeds of $751,350, where each
non-flow-through unit will consist of one common share of the Company and one-half share purchase warrant. The
Company will also issue 622,854 flow-through units at a price of $0.24 per unit for gross total proceeds of $149,485,
where each flow-through unit will consist of one flow-through common share of the Company and one-half non-flow-
through share purchase warrant. Each whole warrant (a “Warrant”) will entitle the holder to acquire one common
share of the Company at an exercise price of $0.33 for a period of 36 months following the closing date of the private
placement (the “Closing Date”).
If, at any time after the Closing Date, the closing price of Metallic Minerals common shares on the TSX Venture
Exchange is greater than $0.44 per share for a period of 10 consecutive trading days, the Company may elect to
accelerate the expiry date of part or all of the Warrants, at any date that is four months and one day after the Closing
Date, by giving notice thereof to the holders of the Warrants. In such case, that portion of the Warrants would be
subject to an expiry date that is 30 business days after the date on which such notice is given by the Company.
Proceeds of the Metallic Minerals financings will be used on the Company's Keno Silver and McKay Hill projects in
Canada’s Yukon Territory, and for general corporate purposes. All securities issued pursuant to the placements will
be subject to a hold period of four months and one day from the date of closing. The financings are subject to
regulatory approval.
"We are pleased to complete these financings for Metallic Minerals which were undertaken concurrently with
independent private placements at the two other companies that make up the Metallic Group of Companies, including
Group Ten Metals (TSX-V: PGE) and Granite Creek Copper (TSX-V: GCX.H). In aggregate, the Metallic Group
companies anticipate raising in excess of $3 million in new funding despite what continues to be challenging market
conditions”, stated Greg Johnson, CEO of Metallic Minerals and Chairman of the Metallic Group.
Mr. Johnson continued, “The Metallic Group founders and team members include a number of highly successful
explorationists formerly with some of the industry’s leading explorer/developers and major producers. Over the past
two years the team has been building a platform of exploration companies focused on consolidating large brownfields
assets adjacent to some of the industry’s highest-grade producers of silver, platinum group metals and copper. We
believe this strategy creates the opportunity for discovery of large, high-quality deposits in these historic and politically
stable mining districts through the application of new models and technology by our experienced exploration teams.”
“By acquiring these low political risk, high potential properties in the low part of the metal price cycle, we are creating
value for shareholders that would not likely be available during other parts of the cycle. With the acquisition of these
key, district-scale assets complete, our experienced teams are undertaking a systematic approach to exploration to
facilitate new discoveries in these proven brownfields districts, where existing road, power and other infrastructure
may allow for greatly reduced capital costs and faster timelines for development when compared to remote
‘greenfields’ deposits.”
“Based on the geologic target models for each of the Metallic Group companies’ properties, along with the current
depressed stage of the metal price cycle, we believe that each of the three companies in the group has the potential
for significant growth over the next several years, through the potential discovery and advancement of new resources
in the Keno Hill Silver District, Stillwater PGM-Ni-Cu district and Carmacks copper district. We look forward to
reporting results of our 2018 work programs in the coming weeks and months.”
About the Keno Silver Project
Metallic Minerals holds a 166-square kilometer land position in the prolific Keno Hill Silver District; one of the world's
highest-grade silver districts, with 300 million ounces of past production and current resources. Based on the shallow
depth of production, recent major discoveries and highly-prospective geology, the district has potential to become
one of the world's premier silver producing regions. Keno Hill has over 100 years of mining and exploration history,
yet recent major discoveries demonstrate the excellent potential for delineation of new world-class deposits through
systematic modern exploration along the known mineralized structural corridors. With 10 of these known mineralized
trends traversing Metallic Minerals' holdings, the company is focused on identifying and rapidly advancing the most
prospective targets toward resource definition. Over past two years, Metallic Minerals has moved from acquisition
through to its inaugural field programs with the advancement of three targets to a resource delineation stage, six
targets to drill ready stage, and 20 early stage targets identified for assessment.
TSX-V: MMG
US OTC: MMNGF
About Metallic Minerals
Metallic Minerals is a growth-stage exploration company focused on the acquisition and development of high-grade
silver and gold in the Yukon. The Company's objective is to create value through a systematic approach to
exploration, reducing investment risk and maximizing the probability of long-term success. In addition to Metallic
Minerals' Keno Silver Project, located in the historic high-grade Keno Hill Silver District, the Company is advancing
the McKay Hill Project, a high-grade historical silver-gold producer, northeast of Keno Hill. Metallic Minerals is also
building a portfolio of gold royalties in the historic Klondike Gold District. The Company is led by a team with a track
record of discovery and exploration success, including large-scale development, permitting and project financing.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of
large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers
of silver, platinum group metals and copper. Member companies include Metallic Minerals (TSX-V: MMG) in the
Yukon’s Keno Hill Silver District, Group Ten Metals (TSX-V: PGE) in the Stillwater PGM-Ni-Cu district of Montana,
and Granite Creek Copper (TSX-V: GCX.H) in the Yukon’s Carmacks copper district. Highly experienced
management and technical teams at the Metallic Group have expertise across the spectrum of resource exploration
and project development from initial discoveries to advanced development, including strong project finance and
capital markets experience and have demonstrated a commitment to community engagement and environmental
best practices. The founders and team members of the Metallic Group include highly successful explorationists
formerly with some of the industry’s leading explorer/developers and major producers and are undertaking a
systematic approach to exploration using new models and technologies to facilitate discoveries in these proven
historic mining districts.
The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies are listed on the Toronto
Venture, US OTC, and Frankfurt stock exchanges.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Website: www.metallic-minerals.com Phone: 604-629-7800
Email: [email protected] Toll Free: 1-888-570-4420
Qualified Person
Scott Petsel, P.Geo, Vice President, Exploration and an employee of Metallic Minerals Corp., is a Qualified Person
as defined by National Instrument 43-101. Mr. Petsel has reviewed the scientific and technical information in this
news release and approves the disclosure contained herein.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential
mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of
prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results
of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government
regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are
forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in the forward-looking statements.
Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results
to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful
exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future
metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks
associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents
or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on
operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made
by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not
have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly,
the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic
Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.