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
7th and 14th, 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.