Metallis Arranges $4 Million Financing
Metallis Arranges $4 Million Financing
VANCOUVER
,
Sept. 21, 2018
/CNW/ -
Metallis Resources Inc.
(TSX-V: MTS)
(the "Company" or
"Metallis Resources") is pleased to announce that it has arranged a non-brokered private placement
to raise gross proceeds of up to
$4,014,000
. The financing is expected to close shortly.
Private Placement Details:
Up to 1,670,000 Non Flow-through Units will be issued at
$1.20
per Unit and up to 1,340,000 Flow-
through Units will be issued at
$1.50
per Flow-through Unit. Each Non Flow-through Unit will consist
of one common share of the Company and one-half of one non-transferable share purchase
warrant. Each Flow-through Unit will consist of one flow-through common share of the Company
and one-half of one non-transferable non flow-through share purchase warrant. Each whole warrant
will entitle the holder to purchase one additional common share of the Company at a price of
$1.65
per share for a period of 36 months following the closing of the financing.
A 6% finders' fee will be paid in accordance with the policies of the TSX Venture Exchange to EMD
Financial Inc. which is acting as the finder in this non-brokered private placement. The private
placement is subject to Exchange approval.
Proceeds from the Flow-through Units will be used for further exploration, including drilling, at the
company's 100%-owned Kirkham Property situated in the heart of the Golden Triangle's
Eskay
Camp
in northwest British Columbia. Proceeds from the Non Flow-through Units will be used for
general working capital purposes.
Fiore Aliperti
, Metallis President and CEO states: "We are working 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 drill
at Thunder North and other promising targets."
About the Kirkham Property
The 106 sq. km Kirkham Property 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 trades under the symbol MTS on the TSX Venture Exchange and currently
has 32,981,129 shares issued and outstanding.
2018 Venture 50
Metallis Resources Inc. was recently included in the 2018 Venture 50 (the "V50"). The V50 is a
ranking of top performers on the TSX Venture Exchange last year. The ranking comprises 10
companies from each of five industry sectors selected based on three equally weighted criteria:
Market capitalization growth, share price appreciation and trading volume amount.
To view the V50 video click here.
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2018/21/c3507.html
%SEDAR: 00025829E
For further information:
Tel: 604-688-5077, Email: [email protected], Web:
www.metallisresources.com
CO: Metallis Resources Inc.
CNW 17:10e 21-SEP-18