Metallis Closes $2.2 Million Financing with Sprott
METALLIS CLOSES $2.2 MILLION FINANCING WITH SPROTT
October 6, 2017
Vancouver, British Columbia: Metallis Resources Inc. (TSX -V: MTS ) (the “Company” or “Metallis”) is
pleased to announce that further to its news release dated October 2 , 2017, the Company has closed its
non-brokered private placement with 2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott ,
raising gross proceeds of $2,200,000.
Metallis has issued 2,000,000 Units at $1.10 per Unit. Each Unit consists of one (1) common share of the
Company and one -half (1/2) of one non -transferable share purchase warrant. Each whole warrant entitle s
the holder to purchas e one additional common share of the Company at a price of $1.50 per share for a
period of two years from the date of closing.
All securities issued in this private placement are subject to a hold period expiring after fou r months and one
day (February 7, 2018), pursuant to applicable Canadian securities laws and the rules of the TSX Venture
Exchange. The private placement is subject to final TSX-V appro val. Finder’s fees of $132,000 were
incurred with this financing.
Proceeds from the private placement will be us ed for the 2018 Drilling Program on the C ompany’s 100%-
owned Kirkham Property situated in the heart of the Golden Triangle ’s Eskay Camp in northwest British
Columbia, and for general working capital.
Prior to this closing, Mr. Sprott beneficially owned and controlled 300,000 common shares representing
approximately 1.1% of the issued and outstanding common shares on a non -diluted basis. As a result of the
closing, Eric Sprott beneficially owns and controls 2, 300,000 common shares of the Company and 1,000,000
share purchase warrants representing approximately 8. 1% of the issued and outstanding common shares of
the Company on a non-diluted basis and 11.3% on a partially diluted basis (being an increase of 10.2% on a
partially diluted basis).
The Units were acquired by 2176423 Ontario Ltd. for investment purposes. Mr. Sprott has a long -term view
of the investment and may acquire additional securities of the Company either on the open market or through
private acquisitions or sell securities of the Company either on the open market or through private
dispositions in the future depending on market c onditions, reformulation of plans and/or other relevant
factors. A copy of Mr. Sprott’s early warning report will appear on the Company’s profile on SEDAR and may
also be obtained by calling (416) 362 -7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, So uth Tower,
Toronto, Ontario, M5J 2J2).
About the Kirkham Property
The 10,600 hectare Kirkham Property, prospective for gold -copper porphyry, high-grade gold and base metal
mineralization, is located about 65 km north of Stewart , British Columbia within the prolific Golden Triangle
region. The northern border of Kirkham is contiguous to Garibaldi Resources’ E&L Nickel Mountain Project,
approximately 12 km southwest of the Eskay Creek mine. The eastern border of Kirkham is within 15 to 20
km of Seabridge Gol d’s KSM deposit and Pretium Resources’ Brucejack mine which is now in commercial
production.
About Metallis
Metallis Resources Inc. is a Vancouver -based company focused on the exploration of precious metals and
base metals at its 100% -owned Kirkham Property in northwest British Columbia’s Golden Triangle. Metallis
trades under the symbol MTS on the TSX Ventu re Exchange and currently has 28,389,863 shares issued
and outstanding, including this private placement.
On behalf of the Board of Directors:
/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director
For further information:
Tel: 604-688-5077
Email: [email protected]
Web: 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 fo rward-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, w hich 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 anticipated,
estimated or intended. 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 o f 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.