Metallis Closes $1.7 Million Non- Brokered Private Placement
METALLIS CLOSES $1.7 MILLION NON-
BROKERED PRIVATE PLACEMENT
VANCOUVER, BC
,
June 29, 2022
/CNW/ -
Metallis Resources Inc.
(TSXV: MTS) (OTCQB:
MTLFF) (FSE: 0CVM) (the "Company" or "Metallis") announces the closing of its non-brokered
private placement (the "Financing"). Details of the Financing can be found in previous News
Releases dated
June 7
th
and 14
th
, 2022.
The second and final tranche raised an additional
$224,200
comprised of 925,000 non-flow-through
units at
$0.20
per unit and 170,434 flow-through units at
$0.23
per unit. Total proceeds from the
Financing are
$1,704,445
consisting of 2,252,500 non-flow-through units for proceeds of
$450,500
and 5,451,934 flow-through units for proceeds of
$1,253,945
.
Each Non-flow through unit consists of one common share and one-half of one non-transferable
share purchase warrant with each full warrant exercisable at
$0.30
per share for three years.
Each Flow-through unit consists of one flow-through common share and one-half of one non-flow-
through non-transferable share purchase warrant with each full warrant exercisable at
$0.33
per
share for three years.
The flow-through shares will qualify as "flow-through shares" for the purpose of the Income Tax Act
(
Canada
) (the "Act"). The proceeds of the flow-through units will be incurred on "Canadian
exploration expenses" (within the meaning of the Act). The Company will renounce these expenses
to the purchasers with the effective date no later than
December 31, 2022
, and as required under
the Act.
The proceeds from the non-flow-through units will be used for both exploration and general
corporate purposes.
The Financing is subject to regulatory approval and all shares and warrants issued on closing are
subject to a trading hold period expiring four months plus one day from the date of issuance. No
finders' fees or finders' warrants were paid or issued in connection with the Financing.
Insiders participated for
$10,000
in this private placement.
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
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.
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For further information:
Tel: 604-688-5077, Email: [email protected], Web:
www.metallisresources.com
CO: Metallis Resources Inc.
CNW 09:00e 29-JUN-22