VANCOUVER, BC, June 14,
2022 /CNW/ - Metallis Resources Inc. (TSXV:
MTS) (OTCQB: MTLFF) (FSE: 0CVM) (the "Company" or "Metallis")
announces the Company has closed the first tranche (the "First
Tranche") of its previously announced non-brokered placement (the
"Financing") of up to $2 million (See
News Release dated June 7th, 2022).
The First Tranche has resulted in the issuance of 5,281,500
flow-through units for gross proceeds of $1,214,745 and 1,327,500 non-flow-through units
for gross proceeds of $265,500.
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 private placement 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.
Shares and warrants issued on closing will be subject to a
trading hold period expiring four months plus one day from the date
of issuance.
Final closing of the Financing is subject to all necessary
regulatory approvals, including the approval of the TSX Venture
Exchange.
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 59,448,878 common shares
issued and outstanding, which reflects the closing of the First
Tranche.
Metallis trades under the symbols MTS on the TSX Venture
Exchange, MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt
Stock Exchange.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President and Director
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 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.