Metallis Resources Inc. (MTS) is excited to announce that, owing to robust investor interest, it has increased the scale of its previously disclosed non-brokered private placement. This upsized offering (the "Financing") will total $1.25 million, comprising up to 4.6875 million non-flow-through units priced at $0.16 per unit, generating proceeds of up to $750,000, alongside up to 2.5 million flow-through shares at a price of $0.20 per share, aimed at raising up to $500,000.
Each non-flow-through unit will consist of one common share and one non-transferable share purchase warrant. Holders of the warrants will have the right to purchase an additional common share at a price of $0.26 per share for a period of three years.
The flow-through shares will be recognized as "flow-through shares" under the Income Tax Act (Canada) (the "Act"). The proceeds from this private placement will be utilized for "Canadian exploration expenses" as defined in the Act. The Company will renounce these expenses to the purchasers by no later than December 31, 2026, in compliance with the Act.
Shares and warrants issued upon closing will be subject to a trading hold period that expires four months plus one day from the issuance date. The closing of this private placement is contingent upon obtaining all necessary regulatory approvals and final acceptance from the TSXV.
Metallis Resources Inc. is based in Vancouver and is dedicated to exploring for gold, copper, and silver at its 100%-owned Kirkham Property in British Columbia's Golden Triangle, as well as at the Greyhound Property in Idaho, USA.
The company trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt Stock Exchange, with 85,730,003 common shares currently issued and outstanding.
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 forward-looking statements, including those regarding the Company's plans, intentions, beliefs, and expectations concerning future business activities and performance. Terms such as "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," and similar expressions are intended to identify these statements. Investors should be aware that forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially. These risks are detailed in the Company's filings with Canadian securities regulators, available on SEDAR.
For more information about Metallis Resources and its latest updates, visit Inside Ticker.