Metallis Clarifies Private Placement Closing
METALLIS CLARIFIES PRIVATE PLACEMENT
CLOSING
VANCOUVER, BC
,
July 29, 2022
/CNW/ -
Metallis Resources Inc.
(TSXV: MTS) (OTCQB:
MTLFF) (FSE: 0CVM) (the "Company" or "Metallis") reports a clarification of its
June 29, 2022
news
release announcing the closing of its
$1.7 million
non-brokered private placement (the "Financing").
The Company did not specify the exemption relied upon by an insider who participated in the
Financing for a total amount of
$10,000
.
This participation of 50,000 units at
$0.20
per unit constitutes a "related party transaction" as
defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value of the units
acquired by the insider nor the consideration for the units paid by such insider, exceed 25% of the
Company's market capitalization.
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. The Property is prospective for multiple mineral deposit types and is located along
a strategic geological boundary – the "Red-line" exposed on the Western margin of the Eskay Rift
system in the Golden Triangle,
Northwestern British Columbia
. The Property is contiguous to
Garibaldi Resources Corp.'s E&L Nickel Mountain Project in the North and Eskay Mining Corp. to the
East, is within 12 km of the Eskay Creek mine and 12 – 20 km west of Seabridge Gold's KSM
deposits and Newcrest Mining's producing Brucejack mine.
Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB
Exchange, and 0CVM on the Frankfurt Stock Exchange. The Company currently has 60,544,312
common shares issued and outstanding after the closing of the Financing.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President and Director
www.metallisresources.com
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 because 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.
SOURCE
Metallis Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2022/29/c7811.html
%SEDAR: 00025829E
For further information:
Tel: 604-688-5077, Email: [email protected], Web:
www.metallisresources.com
CO: Metallis Resources Inc.
CNW 14:30e 29-JUL-22