Business
Metallic Minerals Announces $6 Million Bought Deal Private Placement with Canaccord
Metallic Minerals Announces $6 Million Bought Deal Private Placement with Canaccord ...
About this update from Metallic Minerals Corp.
[{"type":"text","content":"\n\n\n\nMetallic Minerals Announces $6 Million Bought Deal Private Placement with Canaccord\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 27, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ \n VANCOUVER, BC, July 27, 2020 /CNW/ - Metallic Minerals Corp. (TSXV: MMG) | (US OTC: MMNGF) (\"Metallic Minerals\" or the \"Company\") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. to act as lead underwriter (the \"Lead Underwriter\"), on its own behalf and, if applicable, on behalf of a syndicate of underwriters (collectively with the Lead Underwriter, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase for their own account or arrange for substituted purchasers to purchase on a bought deal private placement basis 15,000,000 units of the Company (the \"Units\"), at a price of C$0.40 per Unit (the \"Issue Price\"), for gross proceeds of C$6,000,000 (the \"Offering\").\nEach Unit will consist of one common share of the Company (a \"Unit Share\") and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will be transferrable and entitle the holder to acquire one common share of the Company for 24 months from the closing of the Offering at a price of C$0.60.\nThe Company will grant the Underwriters an option, exercisable, in whole or in part, at any time up to three days prior to the closing of the Offering, to purchase up to such number of Units as is equal to 15% of the number of Units purchased under the Offering.\nThe net proceeds received from the Offering will be used for the Company's exploration and development activities and for general corporate purposes.\nIt is anticipated that closing of the Offering will occur about mid-August or such other date as the Company and the Lead Underwriter may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable...