Business
Metallic Minerals Announces Warrant Exercises for Gross Proceeds of $1.75 Million
VANCOUVER, British Columbia, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic Minerals” or the “Company”) is ple
About this update from Metallic Minerals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce that all of the remaining warrants from its June 30, 2016 financing have been fully exercised for gross proceeds of $1,746,600. Directors, management, and employees of the Company exercised 100% of their warrants, contributing $670,000 to the proceeds and thereby increasing their ownership in Metallic Minerals to a total of 17.5%. Proceeds from exercise of these warrants will be directed to Metallic Minerals’ 2019 exploration programs, and for general corporate purposes. Greg Johnson, Chairman & CEO, stated, “We are very pleased to have the ongoing support from our shareholders with these warrant exercises and particularly with the strong support shown by our management and employees recognizing the value that we are building in the Company. Our field teams are at work at the Keno Silver Project in the Yukon’s high-grade Keno Hill Silver District, along with at our other promising Yukon projects. We are excited about the second half of the year as we follow up on a number of important recent developments and value creating initiatives. We look forward to providing additional updates and reporting results from our exploration activities in the coming weeks and months.” About Metallic Minerals Corp. Metallic Minerals is a growth stage exploration company, focused on the acquisition & development of high-grade silver and gold in under-explored districts proven to produce top-tier assets. Our objective is to create value through a systematic, entrepreneurial approach to exploration in these brownfields districts where we see the opportunity to make world-class discoveries by applying new geologic thinking and technology. The Company’s Keno Silver Project is located in the historic high-grade Keno Hill Silver District of Canada's Yukon Territory, with over 300 million ounces of silver in past production and current M&I resources. The District features excellent existing infrastructure, including grid power, highway and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success as well as large scale development, permitting and project financing expertise. FOR FURTHER INFORMATION, PLEASE CONTA...