US OTC: MMNGF {00325920.3} Metallic Minerals Announces $6 Million Bought Deal Private Placement with Canaccord
TSX-V: MMG
US OTC: MMNGF
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Metallic Minerals Announces $6 Million Bought Deal Private Placement with Canaccord
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., July 27, 2020, Metallic Minerals Corp. (TSX.V: MMG | US OTC: MMNGF) (“Metallic Minerals” or the
“Company”) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. to act as lead
underwriter (the “Lead Underwriter”), on its own behalf and, if applicable, on behalf of a syndicate of underwriters
(collectively with the Lead Underwriter, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase
for their own account or arrange for substituted purchasers to purchase on a bought deal private placement basis
15,000,000 units of the Company (the “Units”), at a price of C$0.40 per Unit (the “Issue Price”), for gross proceeds of
C$6,000,000 (the “Offering”).
Each Unit will consist of one common share of the Company (a “Unit Share”) and one-half of one common share purchase
warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will be transferrable and entitle the
holder to acquire one common share of the Company for 24 months from the closing of the Offering at a price of C$0.60.
The Company will grant the Underwriters an option, exercisable, in whole or in part, at any time up to three days prior to
the closing of the Offering, to purchase up to such number of Units as is equal to 15% of the number of Units purchased
under the Offering.
The net proceeds received from the Offering will be used for the Company’s exploration and development activities and
for general corporate purposes.
It is anticipated that closing of the Offering will occur about mid-August or such other date as the Company and the Lead
Underwriter may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable
regulatory approvals including the approval of the TSX Venture Exchange. The securities to be issued under the Offering
will have a hold period of four months and one day from the applicable closing date in accordance with applicable securities
laws.
In consideration for their services, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds of
the Offering (reduced to 3.0% for purchasers on the President’s List) and broker warrants in an amount equal to 6.0% of
the number of Units issued under the Offering (reduced to 3.0% for purchasers on the President’s List) exercisable for a
period of 24 months at the Issue Price.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities
in the United States of America. The securities have not been and will not be registered under the United States Securities
Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United
States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered
under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Metallic Minerals
Metallic Minerals Corp. is a growth stage exploration company, focused on high-grade silver and gold in underexplored
brownfields mining districts. Our objective is to create shareholder value through a systematic, entrepreneurial approach
to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new
discoveries and advancing resources to development. All three districts have seen significant mineral production and have
existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery
and exploration success on several major precious and base metal deposits, as well as having large-scale development,
permitting and project financing expertise.
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 and
gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno
Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGE-nickel-copper
district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of
the Metallic Group include highly successful explorationists formerly with some of the industry’s leading
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TSX.V: MMG | US OTC: MMNGF
explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to
exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, 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
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 including the closing date of the
Offering and the use of proceeds of the Offering, risks relating to the ability of the Company to obtain required regulatory approvals, complete
definitive documentation, fulfill all conditions precedent, complete the Offering on the terms announced, 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 Group
Ten 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.