Business
Metallic Minerals Announces Additional $2 Million in Private Placement Financings
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Metallic Minerals Corp.
[{"type":"text","content":"Metallic Minerals Announces Additional $2 Million in Private Placement FinancingsNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / August 25, 2025 / Metallic Minerals Corp. (TSX-V:MMG)(OTCQB:MMNGF)(FSE:9MM1) (the \"Company\" or \"Metallic\") is pleased to announce that it has closed its non-brokered private placement financing (the \"Non-Brokered Offering\") with its strategic investors, as well as management and directors, for total gross proceeds of $720,120. Under the Non-Brokered Offering, 3,000,500 units of the Company (each, a \"Unit\") were issued at a price of $0.24 per Unit. Each Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one common share purchase warrant of the Company (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.34 at any time on or before August 26, 2027. All securities issued pursuant to the Non-Brokered Offering are subject to a hold period of four months and one day from August 26, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the \"TSX-V\").The Non-Brokered Offering follows the closing of the previously announced $6 million brokered LIFE Offering (the \"LIFE Offering\"), which closed on July 30, 2025. Newmont Corporation, through its wholly-owned subsidiary, Newcrest International Pty Ltd., exercised their participation rights pursuant to the investor rights agreement with the Company dated May 18, 2023, which allows them to maintain their pro rata shareholding in the Company.In response to strong investor demand, the Company is also pleased to announce a flow-through share offering of up to 4,800,000 common shares (the \"Flow-Through Shares\") at a price of $0.27 per Flow-Through Share for gross proceeds of up to approximately $1.3 million (the \"Flow-Through Offering\"). The Flow-Through Shares will be subject to a hold period of four months and one day from the date of issuance. Finders' fees may be payable on a portion of the Flow-Through Offering. The Flow-Through Offering remains subject to the final acceptance of the TSX-V. The Flow-Through Offering is expected to close on or about August 27, 2025.In aggregate, under the brokered LIFE Offering, the Non-Brok...