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Metallic Minerals Announces Upsize to Bought Deal Financing to C$8 Million
Metallic Minerals Announces Upsize to Bought Deal Financing to C$8 Million Canada ...
About this update from Metallic Minerals Corp.
[{"type":"text","content":"\n\n\n\nMetallic Minerals Announces Upsize to Bought Deal Financing to C$8 Million\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) (OTC: MMNGF) (\"Metallic Minerals\" or the \"Company\") is pleased to announce that it has amended the terms of its previously announced offering of units. Under the amended terms of the Offering (as defined below), Canaccord Genuity Corp. (the \"Lead Underwriter\"), as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Red Cloud Services Inc. and Mackie Research Capital Corporation (collectively with the Lead Underwriter, the \"Underwriters\"), has agreed to purchase, on a bought deal private placement basis, 20,000,000 units of the Company (the \"Units\"), at a price of C$0.40 per Unit (the \"Issue Price\"), for gross proceeds of C$8,000,000 (the \"Offering\"). There will no longer be an option for the Underwriters to increase the size of 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 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 regulatory approvals including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will ha...