Metallic Minerals Announces C$4 Million Flow-Through Private Placement Financing
05/18/22, 12:30 PM
Location
vancouver
Money raised
$4 million
Round Type
seed
VANCOUVER, BC / May 18, 2022 / Metallic Minerals Corp. (TSX-V:MMG) (OTCQB:MMNGF) ("Metallic Minerals" or the "Company") is pleased to announce a non-brokered private placement offering of 9,600,000 flow-through units ("Units") at a price of $0.42 per Unit for aggregate gross proceeds of $4,032,000 (the "Offering"), which represents a premium to the May 17th closing price of the Company's common shares on the TSX Venture Exchange (the "Exchange"). The Units consist of a flow-through share and a half warrant and are being issued as part of a charity arrangement structured by Peartree Securities Inc.
Company Info
Location
vancouver, washington, united states
Additional Info
Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada's Yukon Territory, directly adjacent to Alexco Resource Corp's operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. In addition, the Company recently announced the inaugural resource estimate for the La Plata silver-gold-copper project in southwestern Colorado. All of the districts in which the Company works have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.