Metallis Announces Flow-Through Private Placement and Closes First Tranche
Metallis Announces Flow-Through Private
Placement and Closes First Tranche
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER
,
Sept. 24, 2019
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS, OTCQB: MTLFF)
(the "Company" or "Metallis") announces that subject to TSX Venture Exchange (the "Exchange")
approval, Metallis proposes to carry out a non-brokered flow-through private placement of up to
2,272,727 flow-through common shares of the Company at a price of
$0.88 cents
per share to raise
up to
$2,000,000
.
The shares will qualify as "flow-through shares" for the purposes of the Income Tax Act (
Canada
)
(the "Act"). The Proceeds of the flow-through private placement will be used to incur "Canadian
exploration expense" (within the meaning of the Act). The Company will renounce these expenses to
the purchasers with an effective date of no later than
December 31, 2019
, and as required under the
Act.
No finders' fees and/or agents' fees will be paid. Shares issued on closing will be subject to a trading
hold period expiring four months plus one day from the date of issue.
Metallis also announces that is has completed the first tranche of the private placement with the
issuance of 1,140,000 flow-through common shares of the Company for total gross proceeds of
$1,003,200
.
Fiore Aliperti
, Metallis' President and CEO states: "We are continuing our exploration as far into the
fall season as we can at the Kirkham Property, given the success of our summer exploration
programs. This relatively low-dilutive financing builds on an already strong treasury and gives us
maximum flexibility as we continue to drill our Cole/Etta target and potential drilling on the K9 target
at Thunder North".
About the Kirkham Property
The 106 sq. km Kirkham Property totals 10,610 Hectares and is located about 65 km north of
Stewart, B.C.
, in the heart of the Golden Triangle's prolific
Eskay Camp
. The northern border of
Kirkham is contiguous to Garibaldi Resources' E&L Nickel Mountain Project. The northeast corner of
Kirkham is within 12 km of the Eskay Creek mine while the eastern border is within 15 - 20 km of
Seabridge Gold's KSM deposits and Pretium Resources' Brucejack mine.
About Metallis
Metallis Resources Inc. is a
Vancouver
-based company focused on the exploration of gold, copper,
nickel and silver at its 100%-owned Kirkham Property situated in northwest
British Columbia's
Golden Triangle. Metallis currently has 35,187,129 shares issued and outstanding including the 1
st
tranche of this private placement.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President and Director
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute 'forward-looking' statements, including
statements regarding the plans, intentions, beliefs and current expectations of the Company, its
directors, or its officers with respect to the future business activities and operating performance of
the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" and similar expressions, as they relate to the Company, or its management, are
intended to identify such forward-looking statements. Investors are cautioned that any such forward-
looking statements are not guarantees of future business activities or performance and involve risks
and uncertainties, and that the Company's future business activities may differ materially from those
in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors
are described in the periodic filings with the Canadian securities' regulatory authorities, including
quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at
www.sedar
.com. Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned, anticipated, believed, estimated or
expected. Although the Company has attempted to identify important risks, uncertainties and factors
which could cause actual results to differ materially, there may be others that cause results not to be
as intended, planned, anticipated, believed, estimated or expected. The Company does not intend,
and does not assume any obligation, to update these forward-looking statements.
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. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this
news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within
the United States
or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
SOURCE
Metallis Resources Inc.
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For further information:
Tel: 604-688-5077, Email: [email protected], Web:
www.metallisresources.com
CO: Metallis Resources Inc.
CNW 15:12e 24-SEP-19