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.